This may be the last chance for the bulls to keep the Ethereum chart green as Ethereum currently stands on a very important support level.
Ethereum price today is $3,248.01 USD with a 24-hour trading volume of $10,809,237,817 USD. Ethereum is down 3.12% in the last 24 hours, with a market cap of $387,155,509,327 USD. It has a circulating supply of 119,197,741 ETH coins.
As the daily chart shows, Ethereum has been respecting this support level since May, last year. Besides a few fakeouts, Ethereum never broke below the higher lows trend. If this support level is taken by bears, Ethereum will bleed to $2200, fib 0.5 support. Ethereum has local resistance at a $4000 psychological level.