Ethereum ($ETH ) is experiencing a notable price retracement today, trading at $4,569.50, marking a -3.29% decline in the past 24 hours. The recent price movement comes after ETH touched a 24-hour high of $4,788.00 and a low of $4,451.33, with a substantial 1.19M ETH traded — equivalent to $5.59B USDT in volume.
From a technical perspective, ETH is hovering near its MA60 level of $4,558.82, showing signs of price compression before its next major move. The RSI (6) stands at 69.54, indicating the asset is approaching overbought territory, which could trigger short-term selling pressure.
Trading activity on lower timeframes shows volatility with frequent price swings, reflecting active participation from both buyers and sellers. Despite the pullback, Ethereum remains within a strong upward trajectory in the broader trend, supported by ongoing investor confidence in the network’s long-term potential.
Key Levels to Watch:
Support: $4,450 – $4,500
Resistance: $4,780 – $4,800
Market Outlook:
Short-term traders should be cautious of potential price corrections as ETH nears resistance. Long-term holders may view this as a consolidation phase before Ethereum attempts another breakout towards the $5,000 mark.