Ethereum (ETH) Near Collapse? Key Support Under Pressure After 10% Drop

Ethereum is trading near a key technical level, raising questions about the strength of its current trend. As of press time, the price stands at $3,130, down 11% in the last 24 hours and 4% over the past week. Analysts are monitoring this zone to assess whether the asset can hold support or continue its decline. Weekly 50 EMA Retest in Focus ETH is now testing the weekly 50 EMA, a level that acted as resistance for more than a year. This zone, around the $3,200–$3,500 area, is now being retested from the other side. Merlijn The Trader described the setup as “ make or break ,” noting : “Lose this… and momentum dies. Hold it… and we send.” Holding this support keeps Ethereum within a broader trend structure. If the level gives way, sellers may take control again, and the price could shift lower toward the next support zones....

https://cryptopotato.com/ethereum-eth-near-collapse-key-support-under-pressure-after-10-drop/