Usman Salis
⬤ Ethereum has bounced nicely off its $3,400 support level and is now testing a critical resistance zone at $3,570. If ETH can push through here, the next target is $3,640—a level that could shift momentum back in favor of the bulls. But if resistance holds, we could see another leg down.
⬤ The 4-hour ETH/USDT chart shows Ethereum consolidating between $3,260 and $3,640, with clear liquidity zones on both ends. After the recent bounce, prices are hovering around $3,487, but the real test is the $3,570–$3,640 supply range marked in grey. From here, two scenarios are in play: either ETH breaks higher, or sellers step in and push it back down.
⬤ Price action near $3,570 will be key. Traders are watching for confirmation before making moves—waiting to see if ETH fails at resistance (setting up potential shorts) or breaks through cleanly (opening the door for longs). A breakdown below $3,400 would likely trigger more downside momentum, with $3,260 as the next support zone to watch.
⬤ Ethereum's next move will also depend heavily on Bitcoin. If BTC gets rejected at its own resistance levels, ETH will probably follow and retest the $3,400 support zone more deeply. The two assets tend to move together during major technical turning points, so keeping an eye on Bitcoin is essential.
⬤ With macro uncertainty in the background—including a government shutdown—volatility could spike at any moment. For now, all eyes are on whether Ethereum can clear $3,570 and push toward $3,640, which would likely flip short-term sentiment bullish. If not, another dip could be on the way.
Usman Salis
