Ethereum Price Analysis: Key Breakdown Zone, Bullish Signals Amidst Pullback

Ethereum’s price recently reached the key resistance level of around $4,388. This decline brings the price down to approximately $4,300-$4,320, acting as a potential break-down zone. Despite this pullback, key fundamentals remain strong. Recent record highs in active addresses and low gas fees showcase robust network activity. Furthermore, large investors (whales) have recently purchased ETH for an amount exceeding $430 million, indicating a long-term bullish outlook. 25% monthly gains from August suggest that the momentum is still there.