Saad Ullah
Ethereum (ETH) has demonstrated resilience in today's trading session, staging an impressive comeback from earlier weakness. After testing lower support levels, ETH has managed to regain bullish momentum, attracting renewed interest from traders and investors. This recovery comes at a crucial technical juncture, with key resistance levels now coming into focus as the next major test for the cryptocurrency.
ETH Price Recovers From Lows
Ethereum has bounced strongly after hitting a daily low of $4,339.99. Trader @CryptoMaster786 noted this rebound as a significant technical development, emphasizing that Ethereum's recovery above the $4,400 level reinforces the short-term bullish outlook.
Currently trading at $4,421.91, ETH shows a solid +1.39% daily gain, indicating that buyers have stepped back into the market. This price action suggests that demand remains strong at these levels, with bulls defending key support zones effectively.
Key Ethereum (ETH) Price Levels
Several critical zones are worth monitoring:
- Support: $4,340 – $4,380
- Immediate Resistance: $4,450
- Major Resistance: $4,490 – $4,550
Holding above $4,400 could fuel additional upside momentum. However, if ETH faces rejection at $4,450, we might see another test of the $4,380 support area.
ETH Trading Setup and Strategy
Based on current market structure, here's a potential trading approach:
- Entry Zone: $4,400 – $4,420
- Stop Loss: $4,340
Take Profit Targets:
- TP1: $4,450
- TP2: $4,490
- TP3: $4,550
A clean break above $4,450 with solid volume could trigger acceleration toward $4,500 and beyond, confirming the bullish momentum.
Ethereum Price Outlook: Bulls Eye $4,550
Ethereum's recovery from today's lows and successful reclaim of support suggests bulls maintain control. If this momentum persists, ETH could challenge the $4,490–$4,550 resistance zone, potentially setting up for new local highs.
The $4,400 level remains crucial to watch: sustained holding above this zone supports the bullish thesis, while a break below could introduce downside pressure
Saad Ullah
