Peter Smith
Ethereum is at a make-or-break moment. After pushing to a new local high near $4,868, the world's second-largest crypto is now hovering above a critical support zone that could decide where it heads next.
The Technical Picture
Market analyst Berke Oktay points out that ETH is "trying to hold above the red major support block"—roughly between $3,850 and $3,950. If it can stay above this level, the bulls might have enough fuel for another leg up. If not, a deeper pullback could be in the cards.
Ethereum's chart shows several key zones that matter right now:
- Current Support (Red Zone): $3,850–$3,950—this is the line in the sand
- Immediate Resistance: $4,300–$4,385
- All-Time High: $4,868
- Deeper Support Levels: Green zone at $2,774–$2,942, and yellow zone at $1,945–$2,139 if things get ugly
Holding above that red support zone is critical. It's the upper boundary of Ethereum's previous consolidation range, and staying above it would confirm that buyers are still in charge. Lose it, and ETH could slide toward $3,500 or even $2,900.
What's Next?
Ethereum's fundamentals look solid—upcoming network upgrades like EIP-4844 are expected to improve scalability and lower gas fees, which keeps long-term bulls optimistic. But short-term? That's where things get interesting. After such a strong run, profit-taking is always a risk.
If ETH defends the $3,850–$3,950 zone, we could see another push toward $4,300 and maybe even a retest of that $4,868 high before year-end. But if support breaks, expect some consolidation and possibly a trip down to the mid-$3,000s.
For now, Ethereum's holding its ground near $3,900—showing that bulls are still in control. But they need to keep holding the line, or the momentum could stall out fast.
Peter Smith
