Ethereum (ETH) failed to push above $3,400 at the beginning of last week, with sellers driving the price down considerably. However, buyers kept the price above $3,000, preventing a further decline.
Weekly Performance
ETH started the previous week on a highly bullish note as the price surged almost 6% to go above $3,300 and settle at $3,373. Buyers attempted a move to $3,500 on Tuesday as ETH reached an intraday high of $3,443 before losing momentum. As a result, sellers took control and drove the price down by 3,78% to $3,246.
Volatility Increases
ETH registered a significant increase in volatility on Wednesday, rising to an intraday high of $3,338 and falling to an intraday low of $3,120 before settling at $3,191, a drop of almost 2%. Bearish sentiment persisted on Thursday as ETH fell by 4.12% to $3,059, struggling to stay above $3,000.
Recovery and Decline
ETH fell to an intraday low of $3,013 on Friday but recovered to register an increase of 0.99% and settle at $3,090. The weekend began with buyers in control on Saturday as the price rose to an intraday high of $3,218 before settling at $3,133. However, the price fell back in the red on Sunday, dropping almost 2% to $3,075.
Current Week Performance
The current week began with ETH registering a significant increase of 4.37% and settling at $3,209. However, the current session sees ETH back in the red, down by 2.52% and trading at $3,130.
Possible Scenarios
If sellers can drive ETH below $3,000, we could see the price drop to $2,850. However, buyers have not ceded ground to the bears and prevented a drop below this level. If buyers can retake control and build momentum, ETH could test the resistance at $3,400. A break above this level could see ETH surge past $3,500.
Source: TradingView
Etiketler: [Ethereum fiyat analizi, ETH fiyatı, Ethereum haberleri]
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