Usman Salis
Ethereum (ETH) is once again hitting the stubborn $4,700 resistance zone—a ceiling that's repeatedly turned back rallies. After climbing above $4,000, momentum appears to be fading, leaving traders wondering if a deeper correction is coming.
Ethereum Faces Critical Resistance
According to analyst Ali, it's not unreasonable to think Ethereum could slip back toward $2,400, a level that's held as solid support in the past. Right now, ETH is trading around $4,131 - just below resistance - while support sits at $3,700, with major protection at $2,400. Chart projections suggest a gradual decline could play out over the coming months.
Recent sell signals near $4,700 align with the current pullback scenario. Several factors could push ETH lower: uncertainty around central bank policies and tighter liquidity are weighing on crypto, profit-taking pressure from traders who bought lower, Ethereum's history of sharp corrections after extended runs, and weakness across altcoins that tends to amplify ETH's downside.
Key Levels to Watch
The range between $2,400 and $4,700 is where the action is. Unless Ethereum breaks and holds above $4,700, pullback risk remains real. A clean breakout would reopen the bullish case, but if this attempt fails, ETH could drift toward $3,700 first, with $2,400 as a deeper target.
Usman Salis
