Ethereum Price Analysis
ETH $3,693.87 has struggled to sustain its position above the $3,669.57 support, showing that demand is declining at higher levels.
However, the upsloping 21-day EMA ($3,667.31) and the 55-day EMA ($3,470.72) indicate that the bulls are still in control. If the price rises from the current level and moves above $4,093.92, the price could rally to higher levels.
On the other hand, if the price breaks below the support zone in blue and 21-day EMA, it will suggest that the bulls have given up and are booking profits. That might push the pair down to the 55-day EMA ($3,470.72).