
Jakarta, Pintu News – The cryptocurrency market is always full of surprises and unexpected price changes. Ethereum , one of the leading digital currencies, has decreased by 0.59% since yesterday. Currently, many market participants are trying to predict the next direction of the Ethereum (ETH) price.

On the hourly chart, Ethereum (ETH) is near the local support of $4,493. If there is no price recovery by the end of the day, there could be a break of this support level and the price could continue to decline towards the $4,460 area. This suggests that the selling pressure is still quite strong and market participants should be wary of a potential further decline.
In the longer time frame, the downward trend in Ethereum (ETH) price is still continuing. If today’s candle close is below yesterday’s low, there is a high probability that the price will try to test the $4,400 zone in the near future. This signals that the bears still have control over the market.
Also Read: 5 Reasons Bitcoin Allocation on Wall Street Will Explode by the End of 2025

From a medium-term perspective, there is no clear dominance between buyers and sellers. This is evidenced by the declining trading volume. Under these conditions, sideways trading in the range of $4,300 to $4,600 is the most likely scenario. Market participants may need to be patient and observe further before making investment decisions.
This uncertainty makes many traders cautious about taking long-term positions. Price stability within the range may provide some opportunities for day traders, but long-term investors should probably wait for clearer signals before increasing their exposure in Ethereum (ETH).

Ethereum (ETH) is trading at $4,502 at the moment. Although there is some selling pressure visible, there is still a possibility for a recovery if the current support can be maintained. However, if this support breaks, there could be further declines to watch out for.
Investors and traders should monitor these support levels and adjust their strategies accordingly. Observing technical and fundamental indicators will be crucial in determining the direction of Ethereum (ETH) price in the days to come.

In the face of cryptocurrency market volatility, it is important for market participants to stay alert and informed. Monitoring recent developments and conducting in-depth analysis can help in making informed investment decisions. Ethereum (ETH), with all its recent price fluctuations, remains an attractive asset for many investors and traders.
Also Read: Maartunn Analyst Says December 2024 Crypto Market Pattern Repeats, What Does It Mean?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.