Key Insights:
- ETH fails at $4.8K again, returning to a familiar $2.8K–$4.1K consolidation zone.
- Weekly trend holds, but daily momentum weakens as sellers regain short-term control.
- ETH/BTC pair tests 0.0325 BTC, a level marked for potential long-term accumulation.
Ethereum (ETH) has pulled back from resistance near its previous cycle high and is now trading between $2,800 and $4,100 — a range that defined most of its 2024 movement. This area has become a key focus for traders looking at short- and mid-term price direction.
Rejected at the Top, Back in Familiar Range
A chart from Daan Crypto Trades shows ETH was rejected again near $4,865 — a level that has turned price lower multiple times in the past two years. This latest move caused a drop of nearly 14% on the weekly candle, pushing ETH down to around $3,367.
Daan noted,
Source:Daan Crypto Trades/XThis range has served as a zone of consolidation in the past and may act that way again unless momentum shifts.
Trend Still Intact, But Daily Momentum Slowing
While the daily chart shows clear selling pressure, the weekly setup remains within its wider structure. The $2,800 level is now being watched as the nearest support. Below that, past reaction zones at $2,220 and $2,166 could draw interest if price falls further.
As long as ETH holds inside the $2.8K–$4.1K area, movement may stay range-bound. Volatility has picked up again, but so far there’s no confirmation of a full trend reversal on the higher timeframes.
ETH/BTC Pair Near Key Support Zone
ETH’s chart against Bitcoin (ETH/BTC), shared by Michaël van de Poppe, shows price coming back to an area he marked as ideal for accumulation — around 0.0325 BTC. This level was a breakout zone earlier this year, and price is now testing it again.
Van de Poppe wrote, “A little deeper than expected on ETH, but this is still the level that I think is wise to look for potential accumulations.” Price is currently at 0.03266 BTC. If this range holds, it may offer a base for future recovery. If not, lower support levels at 0.0300, 0.0260, and 0.0199 BTC are in view.
Current Price and Market Snapshot
Ethereum was priced at $3,374.70 as of today, with a 24-hour drop of 2.72% and a 7-day loss of 13.92%. Trading volume over the last day stands at about $66.9 billion.
With price back inside a known range and momentum mixed across timeframes, traders are watching key support and resistance levels for the next move.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/ethereum-slides-into-2-8k-4-1k-zone/
