Altcoins News
By Julie Binoche
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ETH Price Faces Renewed Selling Pressure. Ethereum began the week trading above $4,120 but failed to maintain upward momentum.
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Key Resistance Levels Ahead. If Ethereum manages to find short-term support above $3,880, it could attempt another bounce.
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Downside Risks Still in Play. Failure to reclaim the $4,000 resistance zone could lead to another round of declines.
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Market Sentiment and Broader Outlook. Ethereum’s weakness aligns with the broader crypto market’s sideways movement.
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What’s Next for Ethereum?. For Ethereum to regain bullish momentum, it must reclaim and close above $4,120 in the short term.
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Ethereum (ETH) continues to face resistance near the $4,000 mark as bearish momentum dominates the market.
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Ethereum began the week trading above $4,120 but failed to maintain upward momentum. Sellers quickly took control, pushing the price below key support levels at $4,050 and $4,000.
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Technical indicators also highlight a bearish setup, with a visible trend line forming resistance near the $4,000 level on the hourly ETH/USD chart (data via Kraken).
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The recent drop also saw Ethereum fall below the 61.8% Fibonacci retracement level of the upward swing from the $3,708 low to the $4,252 high.
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A decisive close above $4,080 may encourage bullish traders to re-enter the market, potentially pushing the token toward $4,120.
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However, analysts caution that ETH will need significant buying volume to sustain a breakout.
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Failure to reclaim the $4,000 resistance zone could lead to another round of declines. The first major support lies near $3,880, with additional cushioning around $3,840—the 76.
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If bears extend control below $3,840, the next key targets become $3,750 and $3,700. Further losses from there could bring Ethereum down toward the $3,650–$3,620 range, a crucial…
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Technical indicators such as the Relative Strength Index (RSI) are also leaning bearish, hovering near the neutral 45 level.
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Ethereum’s weakness aligns with the broader crypto market’s sideways movement. Bitcoin’s inability to sustain levels above $108,000 has added pressure on altcoins, including ETH.
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