Ethereum is currently trading at $3,817.52, reflecting a modest gain of 1.7% as the price consolidates beneath critical resistance levels. This consolidation occurs amid a strong correlation with Bitcoin, particularly in the absence of significant market catalysts. Traders are closely monitoring the $3,800 support level, which is seen as crucial for Ethereum’s price stability. The ongoing technical consolidation indicates that market participants are awaiting clearer signals before making substantial moves. Analysts suggest that the current price action may lead to either a breakout above resistance or a decline if support fails.
