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As of 10:37 AM GMT-5 on January 8, 2025, Ethereum (ETH) is trading at $3,345.79, showing a decline of 4.62% from the previous close of $3,380.73. The day’s range for Ethereum is between $3,308.61 and $3,412.27, while its 52-week range spans from $2,122.55 to $4,106.96.
Key data points include:
- Market Cap: $403.091 billion
- Circulating Supply: 120.48 million ETH
- Volume (24h): $36.34 billion
Ethereum Price Action and Market Outlook:
Ethereum recently experienced a surge, targeting the critical $4,000 resistance level. However, substantial selling pressure between $3,700 and $3,800 led to a strong rejection, causing ETH to pull back toward its previous swing low near $3,300. A daily candle close below this level could signal further bearish momentum.
The $3,000 support region is considered a critical defense zone for buyers, aligning with the 100-day moving average. A breach below this support level could trigger significant downward movement in the mid-term. On shorter timeframes, Ethereum formed a bearish pattern near the $4,000 level, accompanied by a divergence on the RSI, signaling a loss of buying momentum.
Having broken the $3,500 support region, Ethereum is now nearing the key $3,000 support area, which aligns with the 0.5-0.618 Fibonacci retracement levels.
Disclaimer: This information is for educational purposes only and does not constitute financial advice.