Ethereum, the largest smart contracts network in the industry and second-largest cryptocurrency, has been flirting with the $3,800 level for two days now, following a majestic recovery from this week’s lowest point of $3,224. Despite a 2.5% decline across 24 hours, Ethereum price boasts a commendable 8% increase in value in the last seven days.
A 48% drop in the trading volume to $26 billion alongside a 2.45% decline in the market cap according to CoinMarketCap data, underscores weakening interest possibly due to the unresolved stand-off between the bulls and bears at $3,800.
Ethereum Price Prediction: ETH Technical Structure Points To More Gains
Ethereum price holds above some important levels, starting with the previous day’s Value Area Low (pdVAL) in the four-hour range at $3,760.
If this level holds as support, traders would be hoping for a close above the daily open at $3,822 — a move likely to call for more long positions to build momentum to retest the $3,900 resistanc
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