Nov 8, 2025
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Ethereum Tests $3,200 Support; Potential Surge to $5,500
The Ethereum price is potentially stabilizing after a period of downtrend, as noted by crypto analyst MMBTtrader. Key technical formations suggest the possibility of a rebound towards new all-time highs.
Key Support Levels
- Ethereum is testing a crucial support level at $3,200, linked to a 50% Fibonacci retracement.
- This level serves as a significant make-or-break point for future price movements.
Potential Bullish Scenario
- If Ethereum bounces off this support, it may trigger a recovery wave, suggesting the market bottom is in.
- A breakout could lead to a strong bullish move, targeting a new all-time high around $5,500.
Bearish Risks
- If Ethereum breaks below $3,200, bearish pressure may increase, potentially driving the price below $3,000.
- A further decline could see prices drop to support just above $2,400, implying over a 30% crash from current levels.
