🧾 Market condition overview
Current price: around 3,755 USDT (down ~-1.1% over 24 hours).
According to TradingView, the technical rating on the daily timeframe is strong buy, with weekly rating buy, and monthly strong buy, while the oscillators are somewhat neutral.
📈 Support, resistance, and technical analysis
The main support shifted to ~3,200 USDT after breaking it, contributing to upward support towards the 4,000 USDT area as a major psychological target.
Expected resistance level around 4,100 USDT as defined by Michaël van de Poppe, which may trigger a strong upward breakout upon breaching this level with good momentum.
A daily Cup and Handle pattern identified at levels ~2,750 USDT, targeting around 4,100 USDT if completed successfully.
⚠️ Potential signals and correction
On the daily chart, the RSI index has entered the overbought zone and shows bearish divergence with price strength, which could signal a correction towards 3,300 USDT if the current area is not supported.
The supply reduction on exchanges to the lowest levels in 9 years (~16 million ETH) supports the bullish outlook in the medium term, preparing for more speculation.
The technical pattern and fundamental indicators support continued bullish momentum if the Ethereum project continues to develop and gain institutional adoption, especially after the ETF approval and launch of EIP-4844 and Pectra.
🎯 Trading recommendation (4-hour/daily timeframe):
Scenario Direction Goals Stop Loss
Stability above 3,940 USDT ✅ Buy 4,000 → 4,100 → 4,200 3,900
Break below 3,600 USDT 🔻 Sell 3,300 → 3,200 above 3,650
⚡ If the price maintains 3,940–3,960 USDT, it heads towards 4,100–4,200 USDT as long as the bias is sideways/bullish.
🚩 A clear break below 3,600 USDT may bring the price back towards 3,300 USDT as initial support.
✅ Quick summary:
The technical structure for ETH is bullish and strong in the medium term.
Acceptable resistance around 4,100 USDT, and closing above it may push the price to target >4,200.
Critical support currently at 3,900, followed by additional support near 3,600.
Monitor RSI and MACD for any significant price reversals.
Long-term analysis remains very positive amid supply reduction and increased institutional flows.
