Ethereum Support Zone: Could Drop to $3,700 if Price Fails

Ethereum is facing crucial support and resistance levels after reaching new highs this week. On-chain analyst Ali Martinez warned that a failure of the key $4,260 level could trigger a price drop towards $3,700. 690,000 ETH are currently accumulated at this zone, indicating significant holder interest. Martinez’s tweet triggered market discussions about short-term trading strategies and potential upcoming market movements.