Ethereum $ETH is showing signs of weakness after rallying into a key supply zone between $4,300 – $4,340. Sellers have stepped in to defend this resistance area, creating early bearish pressure and raising the possibility of a short-term pullback.
Key Levels to Watch
Supply Zone (Resistance): $4,300 – $4,340
First Support: $4,177
Demand Zone: $4,072 – $4,005
Market Analysis
The current price action suggests that $ETH is struggling to break through its supply zone. This indicates strong selling interest at higher levels. If the rejection holds, a retracement toward $4,177 could follow.
A decisive break below $4,177 would likely accelerate selling pressure, targeting the demand zone around $4,072 – $4,005.
Bearish Scenario
Entry: On confirmed rejection from the supply zone
Targets: $4,177 → $4,072
Stop Loss: Above $4,345
Bullish Scenario
If
ma$ETH
nages to break and sustain above $4,345, bullish momentum could return, opening the path for higher highs beyond $4,400.
Bias
Short-term sentiment remains bearish unless the price delivers a clean breakout above $4,345, which would shift momentum in favor of buyers.