Ethereum's Pivotal Crossroads: Will Bulls or Bears Prevail?
Ethereum is currently testing an intraday resistance level at $4,015, with market sentiment hinting at possible volatility in the near term.
- A pullback to below $3,916 followed by a strong rebound would suggest buyers are still in control, potentially driving the price higher (Dashed Green Projections).
- Alternatively, a clear break above $4,015 would confirm bullish momentum, opening the path toward the next resistance zone between $4,174 and $4,413, providing opportunities for further upside (Solid Green Projections).
- On the other hand, a failure to hold $3,916 could indicate weakness, increasing the likelihood of a drop toward the support at $3,733.22. A breach below this level might signal the start of a broader corrective move, inviting short-term bearish pressure into the market.
Note
Ethereum is reconfirming $3,916 as a support and we should see a bullish bounce from this area towards $4,174 and higher.Note
Ethereum failed to confidently break through the $4,015 level and is now following Scenario 1, showing a decline to retest the ascending trendline as dynamic support. A drop below this trendline could lead to a move towards $3,733 to gather liquidity. If the $3,733 support level doesn't hold, bears could gain control and push ETH down further to $3,476.
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