$ETH $USDC #TradeOfTheDay

Ethereum shows early signs of weakness

Ethereum's price failed to find support around the daily level of $3,730 on Wednesday and declined by 3.15%. However, the next day, it recovered most of its losses after bouncing from its $3,500 psychological level. At the time of writing on Friday, it trades down, facing rejection from its daily level of $3,730.

If ETH closes below the $3,500 level on a daily basis, it could extend the decline to retest its key psychological level of $3,000.

However, if the daily level at $3,500 holds as support and ETH closes above $3,730 on a daily basis, it could extend the rally toward its next key level at $4,000.

ETH/USDT daily chart

ETH
ETHUSDT
3,380.37
+0.12%