Ethereum Bulls Eye Key Barrier — Breakout Could Be Near
Ethereum has started a rebound above $4,150, climbing back past $4,250. However, the crypto faces strong resistance around the $4,300 level.
ETH surged past $4,200 and $4,250 but remains below $4,320 and the 100-hour SMA. The hourly ETH/USD chart highlights a bearish trend line, with resistance near $4,300. A drop below $4,180 could trigger further declines.
Ethereum Price Action
After slipping below $4,200, Ethereum mirrored Bitcoin’s losses, with bearish pressure pushing ETH under $4,110. Sellers drove the price further down past $4,080, testing a low near $4,065 before the market staged a rebound above the 23.6% Fibonacci retracement of the previous decline from the $4,580 swing high to the recent low.
Attempts to push past $4,350 and the 61.8% Fib retracement were unsuccessful. The negative trend line on the hourly chart continues to act as resistance around $4,300.
Ethereum remains below $4,300 and the 100-hour SMA, with resistance likely at $4,300 and a more significant barrier at $4,350. The next strong resistance zone is near $4,385. A decisive move above $4,385 could open the path to $4,450, and a break beyond that may propel ETH toward $4,500–$4,550.
Potential Downside
Failure to breach $4,300 could see Ethereum retracing. Support starts around $4,220, with key support at $4,180. A drop below $4,180 may push ETH toward $4,120, with further losses targeting $4,065 and eventually $4,000.
Technical Indicators
MACD (hourly): Losing momentum in the negative zone
RSI (hourly): Currently above 50
Key Levels
Major Support: $4,180
Major Resistance: $4,385
