Moon or Doom: Will Ethereum Defy Bitcoin Drop and Bearish Signals?

Ethereum has shown a slight rebound, trading at $3,473 with a daily gain of 1.69%. Despite this uptick, prediction markets are divided about ETH's future, suggesting a potential drop to $2,500 while others predict it might reach $4,000 by year-end. The market is abuzz with uncertainty, particularly as Bitcoin's decline impacts alternative assets like Ethereum. Currently, ETH is hovering around a crucial support level at $3,400, while technical indicators, such as the RSI and ADX, paint a bearish picture. Key resistance levels are identified at $3,600 and $3,800, while a test of the $2,800 to $2,500 support zone seems likely. Recent whale accumulation and the upcoming Fusaka upgrade provide some hope for bulls, but multiple bearish signals dominate the outlook, predicting potential further decline before a recovery.

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