$ETH is currently trading at $4,671 after failing to sustain momentum above the $4,720 resistance zone. On the hourly chart, the rejection from higher levels suggests selling pressure is active, and price could retest lower supports if it continues to struggle near resistance. A close below $4,660 may open the way for a deeper pullback, while reclaiming $4,720 would invalidate the bearish outlook.
Trade Setup:
Entry Zone: $4,670 – $4,680
Target 1: $4,600
Target 2: $4,550
Target 3: $4,505
Stop Loss: $4,728