Usman Salis
The crypto market rarely gives anyone a break, and Ethereum holders are feeling that pressure right now. After weeks of steady climbing that had traders dreaming of $5,000, ETH just hit a speed bump that's got everyone asking the same question: is this just a quick pit stop before the next rally, or the beginning of something uglier?
With ETH sitting precariously above a key support level that's held the bulls together for months, the next few days could make or break the entire narrative. Smart money is watching every tick, ready to either double down or cut losses depending on which way this critical level breaks.
ETH Price Takes Expected Hit But Stays Strong
Ethereum just got smacked with a 3.74% drop in 24 hours, landing at $4,572.92. But here's the thing – analysts aren't panicking. They actually saw this coming after ETH got rejected near $4,750 and profit-takers started cashing out.
The hourly chart tells an interesting story. ETH is still riding that rising trendline from August 6, which has been like a safety net keeping the bulls in the game. As long as that $4,480 level holds, the party's still on.
Critical Levels That Matter for ETH Price
Right now, all eyes are on $4,863.71 – that's the next big wall ETH needs to smash through. Break that, and we're talking about a serious run toward the psychological $5,000 mark that everyone's been eyeing.
But if things go south, $4,338.40 is waiting as the first real cushion. Miss that, and ETH could tumble all the way down to $3,913.60, which would definitely kill the vibe.
The magic number? Still $4,480. That's the line in the sand. Drop below it with conviction, and even the most optimistic traders might start heading for the exits.
What's Next for ETH Price?
Despite the recent stumble, most traders still think ETH's got more room to run. This pullback? They're calling it a healthy breather – maybe even a gift for anyone who missed the earlier rally.
The game plan is simple: hold that ascending trendline and keep $4,480 intact. Do that, and ETH could be gearing up for another assault on $5,000. But if buyers don't show up soon, this whole setup could unravel pretty quickly.
Usman Salis
