Ethereum Nears Key $3,400 Support Level as Bulls Defend Momentum Amid Market Uncertainty

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.