Ethereum price analysis (Bearish) — 3438.99 USDT (-3.31% 24h)

Ethereum continues to face significant headwinds as ETHUSDT trades at $3,439, down 3.3% over the past 24 hours. The current price sits below both the 20-day SMA ($3,459) and 50-day SMA ($3,528), indicating sustained bearish pressure in the medium term. With RSI reading at 39.4, ETH is approaching oversold territory but hasn’t yet reached extreme levels that typically signal a reversal. The $3,400 level appears to be critical support – a break below could trigger further selling toward $3,200. Trading volume remains substantial at $1.9 billion, suggesting active participation but predominantly on the sell side. For traders, consider scaling into long positions near $3,400 with tight stops below $3,380, while short-term traders might look for bounces toward $3,500 to take profits. The elevated volatility at 3.26% suggests positioning for larger than normal price swings.