Altcoins News
By Maheen Hernandez
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ETH Faces Resistance Around $4,750. Ethereum’s price extended gains above $4,600 and $4,620, testing the $4,750 resistance zone before…
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Resistance Levels to Watch. On the upside, Ethereum faces hurdles around $4,520, which aligns with the 23.
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Potential Downside Scenarios. If Ethereum fails to overcome resistance at $4,600, the short-term correction may deepen.
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Technical Indicators Highlight Caution. Momentum indicators reflect a cooling trend. Daily Relative Strength Index (RSI) readings have…
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Market Context and Broader Crypto Trends. Ethereum’s price action mirrors broader crypto market movements.
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Key Takeaways for Traders
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Ethereum (ETH) has seen a strong rally in recent weeks, reaching highs near $4,750, but the momentum appears to be slowing.
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Technical indicators suggest a weakening short-term trend. ETH is now trading below the 100-hourly Simple Moving Average, and a break below a key bullish trend line with support…
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On the upside, Ethereum faces hurdles around $4,520, which aligns with the 23.6% Fibonacci retracement of the recent decline from $4,759 to $4,435.
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A break above $4,600 could reignite bullish momentum, potentially propelling ETH toward $4,650, $4,720, and even retesting the $4,750 zone in the near term.
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If Ethereum fails to overcome resistance at $4,600, the short-term correction may deepen. Initial support lies at $4,440, followed by a critical zone at $4,420.
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A sustained move under $4,250 could signal a more significant correction, with the next major support at $4,150.
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Momentum indicators reflect a cooling trend. Daily Relative Strength Index (RSI) readings have dropped below neutral levels, while short-term moving averages are showing signs of…
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On-chain data supports this view. Ethereum’s exchange reserves have been steadily declining, signaling that long-term holders are not actively selling.
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Ethereum’s price action mirrors broader crypto market movements. Bitcoin has recently surged toward new highs, but ETH’s inability to extend gains above $4,750 suggests that…
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