$ETH is currently trading around $3,137, showing mild consolidation after a sharp intraday drop toward the $3,129 support zone. The bounce from this level suggests buyers are still active, but momentum remains weak in the short term.
On the lower timeframe, price action is forming lower highs, indicating short-term selling pressure. The RSI near 39 shows ETH is approaching oversold territory, which could allow for a brief relief bounce if buyers step in. Immediate resistance sits around $3,145–$3,150, while strong support remains near $3,120–$3,130.
Overall, $ETH looks range-bound for now. A clean break above resistance could restore bullish momentum, while losing support may open the door for further downside before a stronger recovery.
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