The price of Ethereum (ETH) is currently volatile, hovering around $3,100. Analysts are warning that traders who believed the price had hit the bottom at $3,000 are not yet secure, as there is a possibility of a swing failure. Ethereum has been moving within an ascending parallel channel, but if it fails to maintain support levels, a drop to $2,850 could be expected. The price is nearing a critical support level at $3,006, and if it fails to hold above this level, further downside movement may occur. Short-term sentiment appears gloomy, as indicated by moving averages, but if ETH manages to hold above $3,006, a reversal towards higher targets is possible. The resistance zone for Ethereum is still around $4,200, and breaking above this level could shift the market sentiment to a bullish outlook. Traders are advised to watch for key price levels and moving averages to determine the next market direction.



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