🔥 Ethereum on the Edge — Pullback Risk Ahead 🔥
Ethereum failed to hold above $4,650 and slipped lower again, flashing bearish signs that could drag price beneath $4,340.
🔎 Market Snapshot
ETH struggles to break $4,500
Trading under $4,500 and the 100-hour SMA
Hourly chart shows a downtrend line with resistance near $4,460
A close below $4,340 could trigger deeper losses
📉 Price Action
After testing $4,260, ETH staged a rebound, climbing past $4,320 and $4,350.
It even pierced the 50% Fib retracement of the $4,660 → $4,261 drop but faced heavy selling at $4,480. Bulls attempted twice, but $4,500 held firm as resistance.
Key barriers remain:
$4,460–$4,480 (trendline + Fib level)
$4,500 (major hurdle)
ETH is now back below $4,450 and the 100-hour SMA. Unless bulls reclaim $4,500, downside risks remain.
🚀 Upside Scenario
Break above $4,500 → Opens the door to $4,565
Clearing $4,565 → Next targets: $4,650 – $4,720
⚠️ Downside Risks
First support: $4,375
Strong support: $4,340
Break below $4,340 → ETH could revisit $4,260, and possibly $4,150
📊 Technical Indicators
MACD: Bearish momentum gaining strength
RSI: Below 50, showing weakness
Key Levels to Watch
Support: $4,340 / $4,260 / $4,150
Resistance: $4,460 / $4,500 / $4,565
