Ethereum Price Analysis: ETH Drops 1.5% Breaking $3,590 Support as Recovery Stalls
CoinDesk
Ether dropped 1.5% after failing to break resistance, breaking key $3,590 support on high selling volume.Summary
Ether (ETH) retreated 1.5% during Tuesday's session, falling from $3,629 to $3,576 after bears overwhelmed early bullish attempts near critical resistance. The selloff was confirmed by exceptional selling volume, which spiked 138% above normal levels, driving a decisive break below the crucial $3,590 support level. This breakdown signals that bears now control the near-term direction following the rejection at the $3,646 resistance level. Technical factors dominated, with momentum indicators flashing warnings, and the failure at $3,590 marks a critical shift in market structure. Traders are now watching the immediate downside target at $3,510-$3,530 support, as the broken $3,590 level is expected to act as new resistance.
(Source：CoinDesk)