Ethereum has faced multiple rejections near the $3,500 resistance since early June.
After a weekend surge, ETH saw a technical correction, falling below $3,450 and testing key support.
Over the weekend, the Ethereum market displayed a bullish trend and enjoyed a 5% jump to the $3,500 resistance zone. However, the momentum couldn’t be sustained as the cryptocurrency initiated declined below the $3,450 mark. This resistance has been a recurring challenge since June 6, when Ethereum failed to break through the $4,000 level.
On July 1, Ethereum managed to climb above the $3,400 resistance and briefly entered a positive zone with a $3,525 peak, a similar pattern to Bitcoin (BTC). But this bullish phase was short-lived as the price faced a correction, dipping below the $3,450 mark today. It also fell under the 23.6% Fibonacci retracement level, which spans from the $3,350 low to the $3,525 high.
Will Ethereum Hit $4,000?
Despite this pullback, bullish sentiment persists near t
We współpracy z: https://thenewscrypto.com/is-ethereum-set-for-a-major-upswing-or-continued-correction/
