Ethereum's price is struggling to maintain its position above the $3,300 support level amidst macroeconomic concerns, particularly the Federal Reserve's stance on interest rates. Analysts suggest that if selling pressure increases, ETH could fall below the crucial $3,000 support, potentially triggering further declines. The upcoming launch of Ethereum ETFs is seen as a potential factor for relief, possibly driving institutional interest and a price rebound. Investors are advised to monitor key support levels and market trends closely.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.