Ethereum Price Faces Possible Decline or Sideways Trading Amid Resistance Near $3,600
The post Ethereum Price Faces Possible Decline or Sideways Trading Amid Resistance Near $3,600 appeared on BitcoinEthereumNews.com.
The cryptocurrency market opened the weekend on a bearish note, with Ethereum (ETH) experiencing a notable decline amid fluctuating market pressures. Despite a brief false breakout above $3,599, ETH’s price momentum has weakened, signaling potential consolidation within a narrow trading range. According to COINOTAG, “Ethereum’s current price action suggests cautious investor sentiment, with resistance around $3,675 acting as a critical barrier for upward movement.” Ethereum faces bearish pressure with a false breakout near $3,600; sideways trading between $3,500-$3,600 likely as market awaits decisive movement. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Ethereum Price Analysis: Bearish Momentum and Key Resistance Levels The Ethereum market has shown signs of weakness as the price dropped by 1.66% over the past 24 hours, reflecting broader bearish trends in the crypto sector. On the hourly chart, ETH briefly surpassed the local resistance level at $3,599, but this breakout failed to sustain, indicating strong selling pressure. If this downward momentum persists, the price may test the immediate support level at $3,500 within the next trading session. This level is critical as it has historically served as a price floor, and a breach could lead to further declines. Sideways Trading Expected Amid Market Uncertainty In the absence of clear directional dominance, Ethereum is likely to enter a phase of sideways trading, oscillating between the support at $3,500 and resistance near $3,600. This consolidation phase reflects…
