Price faces resistance near $4,780 while key support emerges at $4,460
Ethereum (ETH) has slipped below the critical $4,530 level, signaling a possible shift in short-term momentum. The second-largest cryptocurrency by market capitalization is currently trading around $4,551, down over 1.3% in the last 24 hours, according to recent market data.
ETH Faces Strong Resistance Zone Near $4,780
The recent chart pattern shows ETH breaking out of a descending channel before rallying sharply toward $4,780, where it faced significant supply pressure. This zone now acts as a major resistance level, with sellers dominating above $4,750.
After failing to sustain the breakout rally, ETH has retraced and is now testing support near $4,460, a level previously marked by consolidation and demand accumulation.
BITX Market analysts suggest that closing below $4,530 could lead to a deeper correction, potentially revisiting the $4,400–$4,300 support zone. If bulls regain control and push ETH back above $4,600, a retest of the $4,780 resistance area remains possible.
Trading volume has spiked during the latest sell-off, suggesting heightened volatility and possible liquidation-driven moves. The broader market trend remains influenced by macro events and Bitcoin’s performance, which often dictate liquidity flows across altcoins.
Key Levels to Watch:
- Immediate Resistance: $4,600 and $4,780
- Key Support: $4,460 and $4,300
- Break Below: $4,300 could accelerate selling toward $4,100
As volatility persists, traders are advised to monitor key support zones and adjust leverage exposure to manage risks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.