Ethereum Price Prediction is back in focus as the world’s second-largest cryptocurrency steadies above a crucial support zone near $3,300 after a sharp 12% pullback over the past week.
ETH briefly dipped to $3,000 on November 4 before rebounding to around $3,400 at the time of writing, suggesting renewed buying interest at lower levels.
The weekly chart indicates that Ethereum faces resistance from its August highs near $4,960 while currently holding around the key 0.618 Fibonacci level at $3,200, a zone that could determine the next major move.
Analysts have revealed that a reclaim of $3,600 would put ETH back in bullish territory, where it can attempt a new high towards $5,000.
On-chain data now shows massive accumulation by whales.
Since October 5th, Ethereum treasury company Bitmine Immersion Technologies has accumulated over 744,600 ETH (worth approximately $2.53 billion).
Ethereum Price Prediction: Bullish Divergence Breakout Targets $4,000 ETH
On the technical front, the Ethereum (ETH/USD) daily chart shows the asset attempting to recover after a notable decline, currently trading near $3,399.
The Fibonacci retracement levels highlight key resistance zones at $3,783 (0.382), $4,231 (0.618), and $4,549 (0.786), indicating possible upside targets if momentum strengthens.
The cluster of exponential moving averages (EMAs) between $3,833 and $4,011 suggests a heavy resistance area; a move above this range could confirm a bullish reversal.
Momentum indicators reveal a potential bullish divergence, as the momentum oscillator forms higher lows while price action trends downward, signaling weakening selling pressure.
This divergence, coupled with the projected pattern, suggests a likely short-term rebound toward the $3,780–$4,000 region.
Ethereum appears to be bottoming out with signs of recovery emerging.
A break above $3,800 could confirm a bullish continuation toward $4,200, while failure to hold above $3,300 risks retesting lower supports around $3,050.
Pepenode Presale Hits $2.09M as Investors Chase 600% Staking Yield
An Ethereum rally back above $4,000 in the short term would bring attention back to ERC20 memecoins, particularly those still in presale.
One of the viral presale projects whales are flocking to right now is Pepenode (PEPENODE), which launched in August and has since raised over $2.09 million from investors.
PEPENODE differentiates itself from typical Pepe meme coins by offering utility beyond viral marketing through its Mine-to-Earn framework.
Unlike traditional mining that demands costly hardware and high electricity consumption, PEPENODE conducts mining by allowing token holders to purchase virtual nodes to earn passive rewards in tokens like Dogecoin and Pepe.
The platform also offers staking with an annual yield exceeding 600%.
With the presale currently underway, early investors can acquire PEPENODE at $0.0011363 before the price increases in subsequent phases.
Interested investors can purchase PEPENODE through the official website using a crypto wallet or bank card.
The post Ethereum Price Prediction: Key $3,300 Support Zone in Focus After 12% Price Pullback – What’s Next? appeared first on Cryptonews.
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