ETH Sell-Off Meets Late Bounce as Volume Climbs; Range Tightens as Risk Appetite Plunges

Market Overview - The S&P 500 closed down 0.99% at 6,822.34, while the Nasdaq Composite lost 1.57% to 23,581.14, indicating a bearish market sentiment [2] - The U.S. Dollar Index (DXY) increased to 99.52 from 98.57, reflecting a stronger dollar amidst ongoing U.S.-China trade discussions without a deal [3] Ethereum Activity - Ethereum's core developers have scheduled the Fusaka upgrade for December 3, following a biweekly coordination call [3] - Ether experienced a decline from $3,921 to $3,731, marking a range of $230.31 (approximately 5.9%) during the session [8] - A late bounce saw Ether rise 1.35% to $3,771.82, breaking above the $3,760 resistance level [8] Technical Analysis - The session volume was 32% above the seven-day average, indicating increased trading activity [7] - Key resistance levels identified include $3,840 to $3,880, with $3,760 now acting as a secondary resistance after being reclaimed [8][11] - Critical support is noted at $3,731, with major support confluence between $3,700 and $3,720 [8] Trading Dynamics - The breakdown below $3,880 confirmed seller activity, while reclaiming $3,760 suggests buyer interest [8] - The current trading range is flagged between $3,730 and $3,880, with traders awaiting a clear break or decisive reclaim before making significant moves [11]