Ethereum embarked on a tumultuous journey this week, mirroring the fluctuations of Bitcoin. On March 21, 2024, ETH plunged to a low of $3,086, painting the charts in red over recent days. However, there’s a glimmer of hope as Ethereum’s price shows signs of recovery, marked by a notable 10% surge in its 24-hour trading volume. The crypto market is cautiously optimistic, anticipating a potential rebound. Despite enduring considerable volatility, Ethereum finds solace in recent developments such as the Dencun upgrade, the looming possibility of ETF launches, overarching market trends, and the residual impact of Bitcoin halving. These factors collectively fuel optimism for Ethereum’s future trajectory.
At the time of writing, ETH was trading at $3,622.
ETH after making the recent high of $4,093 witnessed a sharp correction and the prices fell almost by 25% making the low of $3,056. The asset took the support and bounced from the key level of $3,000. ETH may face a minor resistance at $3,700, If it breaks this level then the prices can test the next resistance which is at $4,150. To further rally, the asset needs to break, close and sustain above $4,150.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,000 | $3,400 | ETH | $3,700 | $4,150 |
