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The current price is at 3.29, and it has broken a support zone.
If it fails to reclaim and hold above 3.40 – 3.45 (the red zone), it may target:
First: the first demand zone (2.85 – 2.90)
Later: the second demand zone (around 2.70)
Bullish Scenario:
If a strong rebound occurs above 3.35 – 3.40 with solid confirmation, the previous move could be seen as just a correction.
In that case, the first target would be a return to the 3.60 – 3.70 area.
However, the price needs to drop into the zone between 3.14 and 3.11 before resuming the upward move.
#Altcoin Season Coming? #Stablecoin Regulation Crackdown #ETH Breaks Through $3,800 #ETH Hits 4800 #NFT Market Rebounds