Ethereum Stalls Below $4,060 as Analysts Eye Potential Drop to $3,600
Ethereum recently tested the $3,800 liquidity level, rebounding before stalling below $4,060. Traders are uncertain if this is a precursor to recovery or a move towards the $3,600 support.
Struggle Below $4,060
- Analyst Ted noted Ethereum's bounce from the $3,800 level but highlighted its difficulty reclaiming $4,060 as support.
- A successful flip of $4,060 into support could spark a rally, while failure might lead to a drop toward $3,600.
Market Outlook
- Andrew Crypto observed that both Bitcoin and Ethereum have broken key supports, indicating potential further declines.
- This situation may offer long-term investment opportunities, though a strong rebound could shift sentiment back to bullish.
