Ethereum’s bullish trend remains intact after pushing past the key resistance zones at $3,820 and $3,880. Despite a slight dip from its recent highs, $ETH is now hovering around the $3,800 mark — a critical level that could determine its next major move.
🔹 Current Market Overview
After a strong rally, Ethereum touched a high of $3,939 before entering a mild correction. It’s currently trading near $3,800, which is also where a key upward trendline was recently broken. Additionally, ETH is now oscillating around the 100-hour simple moving average — hinting at a possible consolidation phase before its next big swing.
🔹 Key Support and Resistance Levels
Immediate Resistance: $3,820
Major Hurdles Ahead: $3,840 and $3,880
Breakout Confirmation: A solid move above $3,880 could push ETH toward $3,940, followed by the psychological barrier at $4,000 and an extended target of $4,120.
On the downside:
Initial Support: $3,720
Crucial Support Zone: $3,700
Failure to Hold $3,700: Could trigger a deeper correction toward $3,650, then $3,550, and possibly down to $3,420 if selling pressure increases.
🔹 Technical Indicators
MACD (Hourly): Showing signs of weakening bullish momentum.
RSI (Hourly): Dropped below the 50 level — a signal of increasing bearish sentiment and potential downside risk.
🔹 Scenario Forecast
Bullish Case: ETH needs to hold above $3,720. If it regains momentum and clears $3,880, the door opens for a climb toward $3,940, $4,000, and potentially $4,120 in the near term.
Bearish Case: A break below $3,700 could accelerate losses, dragging the price down to $3,650 or even as low as $3,420.
🔹 Conclusion
Ethereum is currently in a critical consolidation zone. The next decisive move will likely emerge from how the price reacts at the $3,700–$3,720 support range. Traders should watch closely for a breakout above resistance or a breakdown below support — either could lead to rapid price action in a highly volatile environment.
