Ethereum’s price has declined significantly over the weekend as a result of the rising tensions in the Middle East. Yet, there are still potential support levels available to hold the price.
Therefore, ETH’s price can be expected to rally toward the $3,600 resistance level and the higher boundary of the flag in the coming days. The reaction to these levels can be crucial, as it can determine the longer-term market trend.Dropping lower to the 4-hour timeframe, the price is approaching the $3,300 short-term resistance level. If the market successfully climbs above the mentioned mar, it could rally toward the $3,600 resistance and retest it once more.
During the weekend, the price briefly dropped below the $3,000 support level. This area can be considered a critical zone from a technical analysis standpoint. Therefore, many investors might have put their stop losses there.
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