Ethereum on the Move Again — Is $4,000 Within Reach?

Ethereum recently bounced back after finding strong support around the $3,680 level. It's gaining momentum once more and appears to be eyeing the $4,000 mark.

The bulls successfully pushed ETH back above $3,740 and $3,800. Currently, the price is holding steady above $3,820 and trading above the 100-hour moving average. A bearish trendline was also broken near $3,810, signaling strength.

Bullish Outlook

After a rejection from $3,940, ETH retraced below $3,900 and $3,800. Sellers drove it down toward the 50% Fibonacci retracement level between the $3,515 swing low and the $3,940 high, and even touched the $3,680 zone. However, bulls defended the key 61.8% Fib level and pushed the price upward again.

Now that ETH is back above $3,750 and trading above $3,820, it’s showing bullish momentum. Immediate resistance lies near $3,880, followed by a stronger barrier around $3,920. If it manages a clear breakout past $3,940, we could see ETH climb toward $3,980, with further potential to test $4,050 or even $4,120.

Bearish Scenario?

If Ethereum fails to hold above $3,880, a dip could follow. The first support is near $3,800, and a deeper pullback might revisit $3,720. A break below that could lead to losses toward $3,680 or even $3,565. The key support zone remains at $3,500.

Technical Overview

MACD (1H): Gaining strength in bullish territory

RSI (1H): Above 50, showing positive momentum

Key Support Zones: $3,800 and $3,720

Key Resistance Zones: $3,880 and $3,940

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