Ethereum: Key Support at $3,100 – What’s Next?

Ethereum price recently dipped below the crucial support of $3,100 after a recent market decline. Trading on the 4-hour chart shows sustained selling pressure, with the asset currently hovering near this vital level. While short-term trends remain bearish, buyers have attempted to push prices back towards the moving average. This has been challenged by persistent selling interest reflected in lower highs and lows.