Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ethereum Updates Today: Key Support Zones for Ethereum: The Battleground Between Bulls and Bears

Ethereum Updates Today: Key Support Zones for Ethereum: The Battleground Between Bulls and Bears

Bitget-RWA2025/11/07 03:30
By:Bitget-RWA

- Ethereum drops 3.43% to $3,325.72, its largest decline since Nov. 4, now 32.88% below its all-time high. - Key support at $3,550 under pressure as technical indicators show bearish momentum with RSI below 50 and MACD negative. - Analysts warn a breakdown below $3,550 could trigger further declines to $3,300, while a rebound above $3,650 might signal short-term stability. - Market sentiment remains divided, with some viewing the correction as healthy but macro risks like Fed policy and Bitcoin weakness pe

Ethereum's value remains under pressure as bearish

grows stronger. The cryptocurrency has dropped 3.43% to $3,325.72 as of November 6, representing its steepest single-day loss since November 4, when it plunged 10.73% to $3,212.46, . The recent downturn has left trading 32.88% beneath its record intraday peak of $4,955.23 set on August 24, despite having rallied 134.02% from its 52-week low of $1,387.85 in April, . Over the last five sessions, ETH has posted losses in four, bringing its year-to-date performance to -0.57%.

Technical experts point to major support zones as the main area of contention. The $3,550 level, which has historically sparked recoveries, is now being tested after Ethereum slipped below $3,800 and its 100-hour simple moving average (SMA),

. Should the price fall through $3,550, further declines toward $3,500 and possibly $3,420 may follow, . On the other hand, a bounce back above $3,650 or $3,740 could indicate short-term stabilization, but a sustained rally above $3,800 would be necessary to challenge the $3,880 resistance, where previous upward moves have stalled.
Ethereum Updates Today: Key Support Zones for Ethereum: The Battleground Between Bulls and Bears image 0

Technical signals continue to support the bearish outlook. The MACD for ETH/USD remains negative, and the RSI has slipped below 50, indicating persistent selling activity,

. Traders are keeping a close eye on the $3,550 support; a firm daily close beneath this point could deepen the correction toward $3,350 or even $3,300. At the same time, the wider crypto market is still influenced by Bitcoin's performance, which has also struggled to stay above $110,000, further fueling risk aversion.

Opinions among investors are divided regarding the long-term direction. While short-term pessimism prevails, some analysts believe the current pullback is a healthy pause after recent gains, with Ethereum's core strengths in DeFi and Layer 2 solutions remaining solid, The Currency Analytics observes. Nonetheless, ongoing macroeconomic challenges, such as U.S. Federal Reserve decisions and budget talks, continue to dampen risk appetite.

For now, traders should monitor crucial levels: immediate resistance at $3,650 and $3,740, and key support at $3,550 and $3,500. A decisive move above $3,920 could restore bullish sentiment, but until then, caution is advised amid ongoing market volatility.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Unveiling Euro-Based STRE Stock Offer for Bitcoin by Strategy

Bitcoin Treasury Firm Targets European Market with 10% Annual Dividend on STRE Preferred Stock

Coineagle2025/11/07 16:04
Unveiling Euro-Based STRE Stock Offer for Bitcoin by Strategy

Bitcoin Whale Resurfaces: The Smarter Web Company Seizes Market Dip Opportunity

Reviving Market Activity with an $85 Million Investment: How The Smarter Web Company Bolsters Its Bitcoin Portfolio

Coineagle2025/11/07 16:04
Bitcoin Whale Resurfaces: The Smarter Web Company Seizes Market Dip Opportunity

Bitget Unveils $2M Zero-Interest Loans to Amplify Altcoin Market Fluidity

Program Targets Institutional Market Makers to Enhance Altcoin Trading Volume until January 2026

Coineagle2025/11/07 16:04
Bitget Unveils $2M Zero-Interest Loans to Amplify Altcoin Market Fluidity

Cathie Wood Invests $12M in BLSH Stock Amid 27% Monthly Plunge: Unveiling the Reasons

Ark Invest's Bold Move: Adding 238,000 BLSH Shares to ETFs Amidst Market Downturn

Coineagle2025/11/07 16:03
Cathie Wood Invests $12M in BLSH Stock Amid 27% Monthly Plunge: Unveiling the Reasons