Ethereum's price recently fell short of maintaining its position above the $4,000 mark. After hitting a high around $4,107, ETH began a downside correction. It broke below significant support levels at $3,980 and $3,940, dipping below $3,850, settling around $3,837.
The price faces hurdles near $3,900 and is below its 100-hourly SMA. The upside faces resistance at $3,970 and $4,000, with a potential for reaching $4,120 or higher if surpassed.
If it doesn't clear $3,900 resistance, Ethereum risks more losses. Support lies around $3,820, with further declines possible to $3,780, $3,650, and eventually $3,550.
Technical indicators show bearish momentum, with the MACD in the bearish zone and RSI below 50.
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