3200 defense line is urgent! Will ETH bloodbath the bulls tonight?
Fluctuation in the range of $3180-$3280. From the market signals, bears currently dominate, and market volatility may be a means of control.
The resistance above is focused on the 3280-3320 area and the 3400-3450 area, with obvious selling pressure as prices approach;
The key support range below is located at 3050-3100 and 2950-3000, where certain signs of support have been observed.
ETH is currently reported at about $3220, with a slight consolidation during the day. Although the network recently completed an upgrade, significantly reducing Layer 2 fees, on-chain activity remains active, but short-term prices are still dominated by fund flows and sentiment. If it breaks below the 3150 support, it may test the 3050-3100 range downward; if it can break through 3450, it is likely to challenge the 3600-3800 area upward.
Personally, I believe the current market uncertainty is high, and the manipulators are clearly in control, making it easy for ordinary investors to suffer losses in volatility. It is recommended to remain on the sidelines for now to avoid chasing up and killing down. You can wait for two scenarios before considering action: one is a volume breakout above 3450 and stabilization, and the other is a return to below 3000 support for stabilization before gradually positioning. In the long run, the fundamentals of ETH remain solid, but the short-term rhythm should be approached with caution.
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