💥 Ethereum Tests $4,250 Support as Market Awaits Next Move
Ethereum has slipped below key levels of $4,550 and $4,420, signaling a bearish trend. Currently trading under the 100-hour SMA, ETH faces resistance near $4,450. A break below $4,200 could push prices further down.
Recent Price Action:
ETH fell past $4,650 and $4,450, with bears driving it below $4,350. The latest low was around $4,228, with a slight rebound attempting to take hold. The price has surpassed the 23.6% Fibonacci retracement of the drop from $4,581 to $4,228.
Resistance Levels:
Immediate resistance: $4,375
Next major resistance: $4,400 (50% Fib retracement)
Clean break above $4,450 may push ETH toward $4,550 and potentially $4,650–$4,720 in the near term
Support Levels:
First key support: $4,200
Next supports: $4,150, $4,050, and $4,000
Technical Indicators:
MACD: Increasingly negative
Hourly RSI: Below 50, showing bearish momentum
Summary:
Ethereum remains under pressure. Bulls need a push above $4,450–$4,550 to regain momentum, while a drop below $4,200 could trigger further declines.
