Ethereum: Levels to Watch

Hi guys!

Ethereum is currently showing weakness after failing to break higher. The price is likely to retest the MPL zone around $3727, which also aligns with the long-term ascending trendline, making it a strong confluence support.

The pink area highlights a potential demand zone where buyers may step in. If the market confirms bullish signals in this area, a long position toward the descending trendline resistance could be considered. However, extra confirmations are recommended before entering long.

Summary:

• Short-term target for shorts: $3727 (MPL plus trendline support).
  
• Watch the pink zone for potential long entries, but wait for confirmation.
  

Let's see what will happen!