Ethereum Price Analysis: ETH fails to move above $3,300, another retracement today?

TL;DR Breakdown ETH/USD rallied overnight.Ethereum price fails to move past $3,300.ETH is set to retest the previous low of around $3,100. Ethereum price analysis is bearish for the next 24 hours as the market still fails to reach further highs above the $3,300 mark. Therefore, we expect ETH/USD to retrace and retest the previous low of around $3,100 later today. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market trades in the green today, with the market leader, Bitcoin, up by 2.63 percent and Ethereum up by 3.45 percent. Solana (SOL) is among the best performers, with a gain of 38 percent. Ethereum price movement in the last 24 hours: Ethereum attempts to break $3,300 again ETH/USD traded in a low volatility range of $3,117.79 – $3,333.99, while the trading volume has increased by 22.95 percent and totals $23 billion. Meanwhile, the total market capitalization trades around $384.4 billion, resulting in market dominance of 18.85 percent. ETH/USD 4-hour chart: ETH looks to retrace again? On the 4-hour chart, we can see the Ethereum price failing to reach further highs and rejecting further upside, which should lead to another retracement later today. ETH/USD 4-hour chart. Source: TradingView Ethereum price action has seen strong bullish momentum over the past weeks. After retesting the previous major swing low around $1,725, ETH/USD started to rally and eventually broke past the $2,900 resistance. La...