The Ethereum price is currently consolidating within a crucial support range between the 100-day MA ($3.2K) and the 200-day MA ($3K). This range is seen as the buyers' last line of defense, and the outcome will shape Ethereum's medium-term trajectory. There is an intense battle between buyers and sellers at this level, with sellers attempting to push the price below these key moving averages. A decisive breakout in either direction will determine the next major trend for Ethereum. The $3K level is of particular significance, as it represents a liquidity pool and is attractive to bears and institutional sellers. A bearish breakout below $3K may lead to a shakeout phase before a potential bullish trajectory towards $4K. However, if buyers can sustain support above $3.2K, it could reignite bullish momentum for Ethereum.



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