Ethereum recently saw a significant price increase, rising to $3,446 due to favorable market sentiments following the U.S. election. This rise represented a 20% gain in value.
However, the upward momentum has stalled due to investors taking profits. This profit-taking caused selling pressure, preventing further growth in Ethereum's price.
As a result, Ethereum has settled around a support level of $3,100, with resistance preventing it from exceeding the $4,000 mark.
