Ethereum price analysis (Neutral) — 3213.00 USDT (-9.30% 24h)

Ethereum is currently trading at $3,213, showing moderate weakness with a 2.9% decline over the past 24 hours. The price sits below both the 20-day SMA ($3,262) and 50-day SMA ($3,387), indicating near-term bearish pressure. However, the RSI reading of 44 suggests ETH is approaching oversold territory without being severely extended. Trading volume remains robust at $3.4 billion, indicating active participation despite the downward move. The current volatility of 3.7% presents both risk and opportunity for traders. For position traders, accumulating near $3,200 with stops below $3,150 could offer favorable risk-reward, while swing traders might wait for a confirmed break above the 20-day SMA before entering long positions. The key resistance to watch remains the $3,260-3,300 zone, where we’d expect significant selling pressure.