Ethereum Slips Below $4,060 Support, Eyes Key $3,800 Level
Ethereum is currently at a critical juncture as it stabilizes near the $3,800 support level. Here are the key points:
- Ethereum has slipped below the $4,060 support level, indicating a potential short-term bearish trend.
- The next major support is around $3,800. Failure to maintain this level could lead to a decline towards the $3,400–$3,600 range, potentially leading to an accumulation phase.
- A recovery above $4,060 and $4,250 could indicate that the recent drop was merely a correction within a larger bullish structure.
Nadezhada's analysis highlights:
- A Break of Structure (BOS) suggests Ethereum may be ready for its next upward move.
- A crucial demand zone between $3,910 and $3,800 aligns with a Fair Value Gap (FVG) and an Order Block (OB), indicating strong buyer interest.
- If Ethereum holds this support area, it could trigger a sharp rise toward $4,550, continuing the broader uptrend.
The combination of technical signals and buyer positioning suggests Ethereum might be set for another breakout, assuming market conditions remain favorable.