Ether Experiences Selloff Followed by Late Recovery Amid Market Volatility
- Ether fell from $3,921 to a low of $3,731, marking a decline of approximately 5.9%.
- Trading volume increased by 32% compared to the seven-day average, peaking at 443,415 during the selloff.
- The price rebounded to $3,771.82, reclaiming the resistance level of $3,760.
- Primary resistance is now identified between $3,840 and $3,880, with critical support at $3,731.
- The U.S. Dollar Index rose to 99.52, reflecting a cautious macroeconomic environment.
- Ethereum’s Fusaka upgrade is scheduled for December 3, as announced by core developers.
The recent volatility in Ether comes amid broader market declines, with the S&P and Nasdaq both closing lower on October 30. The cautious tone in the market was underscored by comments from Fed Chair Jerome Powell regarding interest rates.
As Ether bounced back to $3,771 after hitting a low of $3,731, traders are closely monitoring key resistance levels around $3,760 and $3,880 for future movements.(Source)
