---
title: "Ethereum Price Heading For $3,360 – Can Key Support Levels Sustain The Uptrend?"
url: https://diffcoin.com/ethereum-price-heading-for-3360-can-key-support-levels-sustain-the-uptrend/
description: "Ethereum (ETH) is currently facing a critical test as it approaches the key support level of $3,360. This price point has emerged as a significant marker in"
published: 2024-06-29
updated: 2024-06-29
author: "Mila"
site: "Diffcoin"
---

# Ethereum Price Heading For $3,360 – Can Key Support Levels Sustain The Uptrend?

Ethereum (ETH) is currently facing a critical test as it approaches the key support level of $3,360. This price point has emerged as a significant marker in recent trading sessions, with market participants closely watching to see if ETH can maintain its footing or if further declines are imminent.

The $3,360 level represents a crucial battleground between bullish and bearish forces, and its outcome could set the tone for Ethereum’s short-term price trajectory. In this article, we will explore ETH’s potential price implications in the event of a rejection or a breach with the help of technical indicators.

At the time of writing, Ethereum was trading at around $3,387 and was down by 1.62% with a market capitalization of over $407 billion and a 24-hour trading volume of over $11 billion. Its market capitalization is down by 1.52%, while its trading volume is up by 32.02% in the past day.

## **Will $3,360 Support Hold Or Break?**

It can be observed on the 4-hour chart that ETH’s price has experienced a drop toward $3,360 and is trading below the 100-day Simple Moving Average (SMA). Currently, the price is moving in a consolidating manner, which is slightly above this level.

![Ethereum](https://bitcoinist.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-29-at-9.00.58-AM-1.jpeg?w=980&resize=980%2C569)

Source: ETHUSDT on Tradingview.com

Additionally, the 4-hour Relative Strength Index (RSI) indicates that Ethereum’s price may breach below this support level and continue in its downtrend as the RSI line has dropped below 50% and could drop into the oversold zone.

Taking a look at the 1-day chart, it can be seen that ETH is attempting to drop below the 100-day SMA. Although the price of ETH is still bullish, based on current price action it may tend to fall further in the long run.

![Ethereum](https://bitcoinist.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-29-at-9.00.58-AM.jpeg?w=980&resize=980%2C569)

Source: ETHUSDT on Tradingview.com

Finally, the 1-day RSI indicator signals a bearish trend ahead as the signal line has already dropped below 50% and is heading toward the oversold zone. From the price analysis and the formation of technical indicators, it can be suggested that the crypto asset may likely break below the $3,360 support.

## **Ethereum’s Path Beyond $3,360**

Exploring ETH’s prospects and strategies beyond $3,360, it was revealed that if the price of ETH breaks below this level, it may move lower to test the $3,051 support level and probably move on to test the $2,865 support level and other levels below if the price breaches this level.

However, if ETH’s price faces rejection at the $3,360 support level, it will begin to move upward toward the $3,659 resistance level. Should the digital asset breach this support level, it may move further to test the $3,975 resistance level and possibly other higher levels.

![Ethereum](https://www.tradingview.com/x/XPzQN3Yk/)

ETH trading at $3,390 on the 1D chart | Source: ETHUSDT on Tradingview.com

*Featured image from Adobe Stock, chart from Tradingview.com*

[Source link](https://bitcoinist.com/ethereum-eyes-3360-can-key-support-levels-hold/)