Ethereum Nears Key $3,400 Support Level as Bulls Defend Momentum Amid Market Uncertainty
Main Idea
Ethereum is testing the $3,400 support level, a critical zone that could determine its near-term price direction, with bulls aiming to maintain momentum for a potential breakout toward $4,000.
Key Points
1. Ethereum is retesting the $3,400 support level, which previously caused a 10% decline in July, and is now a battleground between buyers and sellers.
2. ETH maintains a bullish market structure, trading above the SuperTrend support near $3,368, indicating ongoing buying strength.
3. If the $3,400 support holds, ETH could target a breakout toward $4,000; a close below $3,368–$3,300 may signal weakening momentum.
4. Market analyst IncomeSharks notes that Ethereum could drop to $3,400 and still retain a bullish structure, highlighting resilience despite recent pullbacks.
5. The $3,400 level is a psychological and technical support zone critical for maintaining Ethereum's bullish momentum and avoiding deeper corrections.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Ethereum is retesting
Latest News
- XRP Maintains Bullish Structure as Market Awaits Daily Close Above $3.12 for Confirmation2025-08-02 23:37:46
- Bitcoin Shows Potential for Further Growth Amid Market Maturity and Short-Term Holder Volatility2025-08-02 23:25:38
- Ethereum Whale’s Increased 20,000 ETH Short Position May Influence Market Volatility2025-08-02 23:25:20
- Bitcoin Shows Potential for Breakout Toward $121,000 Resistance Amid Strong Volume and Momentum2025-08-02 23:13:52
- Arkham Intelligence Suggests LuBian Bitcoin Hack May Be Largest Crypto Heist Unreported for Years2025-08-02 22:47:24