ETH Maintains Uptrend as Bulls Defend Crucial Level
Ethereum (ETH) is currently trading around $4,397, maintaining a strong upward trendline despite recent volatility. The 4-hour chart reveals a critical support zone near $4,200, where buyers have repeatedly stepped in to prevent deeper declines. This region aligns with a rising trendline that has been respected since early August.
The price action highlights two important demand zones:
- $4,200 – $4,250: This is the immediate support area that has acted as a springboard for previous rallies.
- $3,950 – $4,000: A deeper support zone that could attract strong buying interest if the upper level fails.
On the upside, resistance is evident near $4,600, followed by a major barrier at $4,850 – $4,900, where previous highs triggered profit-taking.
The ascending trendline from early August remains intact, signaling bullish structure in the medium term. According to several analysts, holding above $4,200 is crucial for sustaining the bullish outlook. A decisive break below this level may open the door for a retest of the $4,000 support.
“Ethereum continues to show resilience despite recent corrections,” said BITX market strategist. “The higher lows on the chart confirm that buyers are still in control, provided we do not see a strong close below the trendline.”
Volume data suggests a decline in selling pressure as price consolidates near support. If ETH rebounds from this zone, a move toward $4,600 – $4,700 could materialize. However, a break below $4,200 might shift momentum in favor of sellers, making $3,950 the next target.
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.