Ethereum Price Analysis: ETH spikes to $3,000, prepares to regain some of the loss?

TL;DR Breakdown Ethereum price analysis is bullish for today.ETH/USD spikes to $3,000 support overnight.Ethereum is likely to retest previous highs later today. Ethereum price analysis indicates bullish price action to follow over the next 24 hours as a rapid decline to the $3,000 mark was seen overnight, where support was found. Therefore, we expect ETH/USD to rally higher later today and look to regain some of the loss. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours as the market leader, Bitcoin, declined by 3.41 percent. Meanwhile, Ethereum is among the worst performers, with a loss of 6.2 percent. Ethereum price movement in the last 24 hours: Ethereum declined to $3,000 support ETH/USD traded in a range of $2,959.03 – $3,277.74, indicating mild volatility over the last 24 hours. Trading volume has increased by 10.66 percent and totals $25.91 billion. Meanwhile, the total market capitalization trades around $356.67 billion, resulting in market dominance of 18.57 percent. ETH/USD 4-hour chart: ETH set to regain some of the loss On the 4-hour chart, we can see the Ethereum price action rejecting further upside, indicating an upcoming reversal. ETH/USD 4-hour chart. Source: TradingView Ethereum price action has seen a substantial increase over the last month. Since establishing another swing low at the $1,725 previous major support, ETH/USD has rallied by ...