Ethereum (ETH) continues to hold its ground following a recent decline, with a focus on key price zones and technical signals to determine the next steps.
Current Prices and Market Capitalization
At the time of writing, Ethereum traded at $3,493.37, recording a 2.94% daily increase. ETH's market capitalization stands at $421.93 billion, while the 24-hour trading volume decreased by 22.66% to $28.18 billion.
Technical Indicator Analysis
Analyst Michaël van de Poppe noted that a 15% drop from recent highs could create a favorable environment for accumulation, with a potential target above $4,000. RSI and MACD indicators confirm cooling momentum, suggesting short-term consolidation.
Future Price Movement Prospects
Technical analysis indicates that the range between $3,200 and $3,400 is seen as having a 70% probability of allowing a bullish breakout. Meanwhile, a deeper support zone between $2,950 and $3,100 could be reached if broader market risks persist.
Thus, Ethereum maintains its positions amidst market uncertainty, highlighting the importance of considering technical signals and support zones for future trading.
