Saad Ullah
Ethereum (ETH) is currently at a crucial juncture as it battles to overcome the $4,800 resistance level. While the cryptocurrency has shown impressive strength in recent weeks, the inability to break through this key barrier has traders and analysts closely watching for signs of either continuation or correction. With institutional interest remaining strong but profit-taking concerns mounting, ETH's next move could set the tone for the broader altcoin market.
ETH Price Struggles Near Resistance
Ethereum is currently trading around $4,397, holding steady after its recent rally but showing signs of fatigue near key resistance levels. The price has been consolidating in this range, with bulls repeatedly failing to push through the $4,800 barrier on both weekly and monthly timeframes.
Analyst @Daniel_BNB highlights that the $4,800 zone remains the critical level that Ethereum needs to conquer to maintain its bullish trajectory.
Without a convincing break above this resistance, the market sentiment could shift from optimistic to cautious, potentially opening the door for a pullback.
Weekly Outlook: ETH Support and Risk of Pullback
Looking at the weekly chart, ETH's price action shows signs of momentum cooling off below the $4,800 ceiling. While the overall structure remains healthy, the repeated rejections at this level suggest that buyers are losing steam.
If Ethereum fails to break higher, the first line of defense sits at $4,200. However, should selling pressure intensify, analysts are eyeing a potential move down to $3,350 – a level that has historically played a significant role as both support and resistance. This zone could become the key battleground where bulls attempt to defend the longer-term uptrend.
What Comes Next for Ethereum (ETH) Price?
The market remains in a wait-and-see mode, with investors balancing strong institutional demand against the possibility of profit-taking after the recent gains. A successful break above $4,800 would likely target the psychological $5,000 level and beyond, reigniting bullish momentum across the board.
Conversely, a decisive close below $4,200 would signal weakness and increase the probability of a deeper correction toward $3,350. Traders should keep a close eye on these critical levels as they will likely determine Ethereum's next major directional move.
Saad Ullah
