Ethereum has been consolidating near the $4,400 level after strong recent gains.
Price action is confined within $4,350–$4,460, with bulls stepping in at dips close to $4,370.
The key question: Will $ETH hold above $4,400 to extend its rally, or will it fall back into the consolidation zone?
Why $4,400 Is Crucial
This is the neckline of the recent breakout attempt — flipping this level to support is critical for bullish continuation.
Holding above $4,400 typically opens the door to targets around $4,550–$4,600, with a potential run to $4,700+ if momentum holds.
Key Levels to Watch
Support:
➣ $4,370–$4,390 → recent low where buyers defended dips
➣ $4,300–$4,330 → strong demand zone from earlier consolidation
➣ $4,200s → fallback zone if momentum fades
Resistance:
► $4,400 → breakout support/resistance flip level
► $4,550–$4,600 → next supply cluster
► $4,700 → psychological target and near-term high
Why I’m Bullish
► Ethereum 2.0 upgrades are progressing, enhancing scalability and investor confidence.
► Strong institutional interest and growth in DeFi/NFT activity keep demand robust.
► Network usage remains high, supporting ETH transaction fees and token utility.
What Could Negate the Bull Case?
A rejection below $4,370 and a sustained close under $4,350 could drag ETH back toward $4,300 or lower.
Breaking $4,300 would raise the risk of a deeper pullback to $4,200s.
Base Case (Next 1–7 Days)
➣ Bull Scenario: Flip $4,400 to support → push to $4,550–$4,600 → challenge $4,700
➣ Bear Scenario: Fail $4,400 → test $4,370–$4,350 → possibly $4,300s if selling intensifies
How I’m Trading It (Spot)
Long Entry: Above $4,410 with clean 15–60 min confirmation.
Targets: $4,550 → $4,600 → $4,700
Stop-Loss: Back below $4,380
Short Opportunity: If $4,400 rejects with volume, short to $4,370–$4,350, cover near $4,340, watch for bounce or further drop.
NFA
