Ethereum underwent a downside correction below $3,250, consolidating near the $3,000 level. If Ethereum maintains its stability above this zone, it may initiate a fresh increase.
The price failed to sustain gains beyond $3,450, declining past $3,320, $3,250, and reached the $3,000 support zone. The current price is below $3,200, facing resistance at around $3,120 and $3,200 levels.
A clear breakthrough above $3,265 could propel Ethereum toward $3,320-$3,450. Conversely, inability to clear $3,200 might lead to continued decline, with support around $3,040 and possibly $2,880-$2,740.
The MACD shows losing momentum in the bearish zone, and the RSI is below 50, indicating potential further weaknesses.
