Ethereum (ETH) has dropped sharply after failing to hold above the $3,400 resistance level. The move has pushed the price below a key support line, triggering increased selling across both spot and derivatives markets.
As of press time, ETH trades arpimd at $2,960, down nearly 12% over the past week. Trading activity has picked up, but buyers appear to be stepping back.
Rejection at $3,400 Triggers Sell-Off
Ethereum was halted near $3,400, a level traders had been watching. Analyst Kamran Asghar said the rejection came “perfectly off the OTE selling area,” referring to a zone often targeted by sellers. After that move, the price broke through ascending support, putting the $2,600 zone back in focus.
$Ethereum Rejected & Ejected.
Perfectly played off the OTE Selling Area at $3,400. We’ve now snapped the ascending support, and the path of least resistance is looking like a trip back to the $2,600 value area. pic.twitter.com/6JQuZIqpmY
— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠
We współpracy z: https://cryptopotato.com/eth-crashes-12-weekly-is-a-drop-to-2600-next/
