Ethereum Price Risks Drop to $4,000 Amid Market Tug-of-War
Ethereum is currently trading in a critical range between $4,200 and $4,300 following a drop below $4,300. Key levels to monitor include:
- Critical demand zone around $4,300
- Resistance faced at $4,600-$4,800 last month
- Support level at $4,000 if bears take control
Recent analysis indicates:
- Current momentum shows an uptrend supported by a bullish trendline from August lows
- A bearish trendline limits upward movement
- Bulls need to hold above $4,300 for a potential rally towards $4,600-$4,800
- If unable to maintain demand, a retest of $4,000 may occur
The market exhibits bullish tendencies, but a weak hold by bulls suggests potential sideways movement. Confirmation of a bullish reversal requires breaking the bearish trendline.
