Ethereum is undergoing a crucial technical test at the $3,400 support zone, a level that may dictate its short-term price trajectory as market participants watch for confirmation of bullish momentum.
The pivotal support region, previously responsible for triggering a 10% price decline last month, has reemerged as a key battleground between buyers and sellers. Despite recent pullbacks, ETH maintains an overall bullish structure by trading above SuperTrend indicator support near $3,368, signaling persistent buyer conviction at current levels.
Market analyst IncomeSharks emphasized Ethereum’s resilience, noting the cryptocurrency can decline to the $3,400 threshold while preserving its constructive technical framework. Sustained trading above this psychological and technical floor could catalyze an upward move toward the $4,000 target. However, a decisive close below the $3,368–$3,300 range would indicate weakening momentum and risk deeper corrective movements.
The outcome at this critical juncture remains pivotal for preserving Ethereum’s bullish trajectory and avoiding extended consolidation phases.