Ethereum Price at Crossroads: $4K Retest Could Define Q4

TL;DR

• ETH trades near $4,200 with analysts watching $4,000–$4,100 support and $3,860 secondary zone.
• EGRAG CRYPTO sees potential retest of $4K support, projecting a broader move toward $10,000–$12,000.
• Ash Crypto calls the triangle breakdown a shakeout, with $4,160–$4,200 support and $4,600–$4,800 resistance.

Short-Term Pullback and Key Levels

Ethereum is trading near $4,200 after sliding almost 6% in the last 24 hours and over 8% weekly. During the past seven days, ETH has traded in a range between $4,200 and $4,600. On the daily chart, the 21 EMA continues to act as a short-term guide as ETH searches for support.

Analyst EGRAG CRYPTO noted that this move may set up a relief rally. They said, “The potential for a retest of the $4,000 mark with the potential 21 EMA is still very much alive.” Current support sits between $4,000 and $4,100, with $3,860 as a secondary level to watch.

On higher timeframes, Ethereum has already broken out of a descending broadening wedge. The pattern suggests that ETH is now retesting $4,000 as support after its breakout. EGRAG CRYPTO pointed to a longer-term projection, saying,

Past consolidations have followed similar rejection points before price continued upward. Analysts suggest that as long as ETH holds above the $3,860–$4,000 range, the long-term outlook remains constructive.

Triangle Breakdown Seen as Shakeout

Analyst Ash Crypto pointed to a separate development on the daily chart, where ETH broke down from a symmetrical triangle that had been building since mid-July. The drop confirmed short-term weakness, often associated with stop-loss triggers and sharper volatility.

They described the move as a final reset before renewed upside, saying,

Support is now found around $4,160–$4,200. If this zone fails, ETH could revisit $3,850–$3,900. On the upside, reclaiming $4,400 would be the first sign of strength, with $4,600–$4,800 as the next resistance zone.

The $4,000 zone has remained at the epicenter of near-term direction for Ethereum. If the price manages to hold on to this level, it may open the door for some recovery toward $4,600 and beyond. Failure to defend will stretch the pullback toward $3,850.

Market participants are observing whether the pullback turns out to be a brief shakeout before a stronger Q4 rally or more profound retracement. The upcoming daily and weekly closes will be heavily scrutinized for confirmation.

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