ETH Squeezes Below 4300 — Can Bulls Retake 4320 to Flip the Tape?
bounced above the 23.6% retracement level between 4636 and 4000, but the price remains under 4300 and below the 100-hour SMA. The first key level for buyers is 4220—clearing this opens the door to 4250. A stronger bullish signal comes at 4320, which aligns with the 50% retracement.
A bearish trendline caps upside near 4360 on the hourly chart. Breaking above that could unlock targets at 4450 and then 4550. However, failure to hold above 4220 risks another downward move. Initial support is at 4120, with major support at 4050. Losing 4050 brings 4000 back into focus, followed by deeper supports at 3880 and 3750.
Indicators show a mixed picture. The hourly MACD remains bearish while RSI sits below 50, suggesting cautious, reactive trading rather than aggressive chasing. Wait for a clear break above 4320 before leaning long, and watch 4050 and 4000 as key risk levels if sellers take control.