NewsBTC
Oct 31, 2025
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Ethereum Tests Key Support Around $3,700 Amid Rejection Concerns

Ethereum is testing its key support zone around $3,700, a significant level for bulls. Recent rejections near resistance have led to speculation on whether buyers can drive prices up or if a deeper correction will occur.

ETH Price Movement and Analysis

  • Ethereum faced rejection at the high-timeframe resistance zone, aligning with Fibonacci points of interest.
  • The price retreated into an accumulation range that has historically provided strong support.
  • This area coincides with the Weekly Bull Market Support Band, marking a potential turning point.
  • Analyst Luca remains optimistic about long-term potential but plans to hedge holdings to manage downside risk.

Ethereum

Mid-Range Support Zone

  • Ethereum is trading between $3,900 and $3,100, recently touching the mid-range support area around $3,600–$3,700.
  • The Stochastic RSI indicates a bullish signal, suggesting potential short-term rebound.
  • If ETH regains strength, the next target could be around $5,200.
  • Despite optimism, downside risk remains near $3,100.
  • Analyst GrayWolf6 monitors for a bounce from this support level while maintaining risk-managed positions.

Ethereum