Ethereum is currently trading above an important support area around 2850 – 3000, which is the same area that held the price before the previous rebound. This week's drop has brought the price back to a new testing point, making the area very sensitive.
If ETH can hold above 2900 – 3000, we might see a rebound towards
3200 as the first target
3380 – 3400 as a strong resistance area that needs to be broken to change the trend.
However, if there is a clear break below the 2850 level with a weekly close, this means the price will return to test the broader demand area at 2400 – 2600
