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Ethereum Price (ETHUSD) Under Negative Pressure – Forecast for July 3, 2024

Ethereum (ETHUSD) Price Analysis

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Current Scenario

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Ethereum (ETHUSD) has opened today under significant negative pressure, with a focus on testing the critical support level at 3,360.31$. There are indications suggesting a potential break below this level, resuming a bearish correctional trend. However, stochastic indicators show some positive signals that could potentially temper further declines.

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Neutral Outlook

Given the current uncertainty, it is prudent to remain cautious until Ethereum’s price confirms its stance relative to 3,360.31$. A continuation of the decline and a breach below this level would likely target lower objectives around 3,132.80$. Conversely, consolidation above this support level would support a recovery towards 3,641.82$.

Expected Trading Range

  • Support: 3,250.00$
  • Resistance: 3,500.00$

Trend Forecast: Neutral

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