Ethereum is currently trading around $4,120, showing signs of temporary weakness after a pullback from the $4,450–$4,500 resistance zone. Based on the current 4-hour market structure, it seems the market is not yet ready for a strong bullish breakout, and a deeper correction or sideways movement remains possible.
Resistance Zone: $4,350 – $4,500
The red box on the chart highlights a key supply zone where selling pressure has repeatedly pushed the price lower. This level remains a crucial short-term resistance. A confirmed breakout above $4,500 could open the way toward the $4,800–$4,900 area, signaling a potential continuation of the uptrend.
Support Zone: $3,500 – $3,700
The green area below marks a demand zone that has consistently acted as strong support in the past. It also aligns with the 0.5–0.618 Fibonacci retracement range, making it a high-probability area for buyers to step in. If the price drops toward $3,700, buying pressure could increase and trigger another upward move.
Possible Scenarios
Bullish scenario: If Ethereum corrects to the $3,700 area and finds sufficient buying momentum, a rebound toward $4,500 or higher is likely.
Bearish scenario: If the $3,700 support fails to hold, a deeper decline toward $3,300–$3,400 could follow.
Summary
Overall, Ethereum is currently ranging between $3,700 and $4,500, two key levels that will determine its next major move. With market participants remaining cautious amid uncertainty around the Federal Reserve’s next steps, short-term volatility is expected to continue. Traders should wait for clear reactions at these key zones before making new entries.
Submit Your Comments
(Replying)
Please keep in mind to avoid offensive keywords and also fake information.
Be the first one to comment.