Ethereum Eyes a Comeback — Is a Major Rally on the Horizon? 🔥
Ethereum is showing strength after climbing above $3,940, and while it's consolidating now, a push toward $4,000 could be just around the corner.
📈 Recent Movement
ETH surged past $3,840 and $3,880
Currently holding above $3,800 and the 100-hour SMA
Hourly chart reveals a bearish trendline with resistance near $3,840
🔁 Price Action & Support Levels
After hitting a local high at $3,939, ETH dipped below $3,900 and even lost the $3,820 level, breaching the 23.6% Fib retracement of the $3,515 → $3,939 move.
Still, it’s holding above $3,720 — a key support that aligns with the 50% Fib retracement of the same range.
📊 Key Resistance to Watch
Immediate: $3,840
Next: $3,880
Major: $3,940
A clean break above $3,940 could unlock targets at $3,965, $4,000, and even $4,120.
🔻 Bearish Scenario?
If ETH fails to overcome $3,840 resistance, it could dip again:
First support: $3,720
Stronger support: $3,680
Below that: $3,650 → $3,550 → $3,420
🧠 Technical Indicators
MACD: Losing bullish momentum
RSI: Below 50, suggesting slight weakness
🎯 Levels to Watch
Support: $3,720
Resistance: $3,840
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