Ethereum (ETH) is showing signs of exhaustion after recently testing a key resistance area. At the time of writing, ETHUSD trades near $4,194, up 0.07% in the past 24 hours. The price faced a notable rejection from the supply zone between $4,300 and $4,340, hinting at a potential short-term correction.
Key Price Levels to Watch
Supply Zone (Resistance): $4,300 – $4,340
Immediate Support: $4,177
Demand Zone: $4,072 – $4,005
Market Outlook
Ethereum’s recent rally has slowed as sellers defend the $4,300–$4,340 range. A confirmed rejection from this zone could trigger a retracement toward $4,177. If bears manage to push the price below this support, the next downside target lies within the $4,072 – $4,005 demand zone.
Bearish Scenario
Entry: On confirmed rejection from $4,300–$4,340
Targets: $4,177 → $4,072
Stop Loss: Above $4,345
Bullish Scenario
If ETH breaks and sustains above $4,345, it could pave the way for another upward move toward $4,400 and beyond, with bulls regaining momentum.
Short-Term Bias
For now, the market leans slightly bearish, unless a clean breakout above $4,345 occurs. Traders should watch price action closely around the current resistance zone to gauge the next move.
Tags: #EthereumPriceAnalysis #ETHUSD #CryptoTrading #ETH4500Next #BinanceAlphaAlert #CryptoMarketUpdate