Ethereum’s price is showing choppy movement, fluctuating between $4,150 and $4,200. A sharp dip briefly pushed the price below $4,100 before it quickly recovered. Over the week, Ethereum started near $4,507 and experienced a steady decline, falling below $4,300, a 7.3% drop over the period.
As of this writing, ETH is trading at around $4,177.71 with a 24-hour loss of 0.33%.
Source: CoinMarketCap
Ethereum faces key support at $4,000 amid potential rebound
Recent data shared by on-chain analyst Ali Martinez indicates that Ethereum is hovering near a crucial support level at $4,000. The chart shows strong buyer interest emerging around this zone, which has historically acted as a key turning point for price action.
If bulls manage to defend this level, Ethereum could stage a recovery rally, targeting the $4,400 resistance area where previous rejections have taken place.
On the other hand, a failure to hold above $4,000 may expose Ethereum to deeper corrections, potentially pushing the price below $4,060 before any bounce. This makes the coming sessions vital in determining Ethereum’s short-term direction, as maintaining support could shift market sentiment back toward the upside.
Ethereum’s final opportunity before rally
The chart from Trader Tardigrade highlights Ethereum’s recurring cycle pattern on the weekly timeframe. After each prolonged accumulation or consolidation phase (marked in dark blue boxes), ETH has historically offered a “Final Opportunity” entry just before a major rally (green boxes).
Source: X
In the current structure, price action appears to be at another such “Final Opportunity” zone, similar to the previous cycles in 2020 and 2018. This suggests that, according to this analysis, Ethereum could be on the verge of a new bullish phase, potentially leading to significantly higher prices as projected in the green box on the right side of the chart.
Ethereum consolidates near $4,200 with key support at $4,070
Ethereum’s price is moving sideways after going up and stopping near $4,200–$4,300, which is now strong resistance. It has dropped to around $4,070, creating a support area there. If it breaks above $4,300, the price may rise again, but falling below $4,070 could push it down to $3,800–$3,900.
1-day ETH chart, Source: TradingView
The MACD histogram has turned red with both the MACD and signal lines trending downward, reflecting weakening bullish momentum. This hints at a potential bearish crossover if the trend continues. The CMF at –0.05 shows mild outflows, meaning buying pressure is fading and fresh inflows are needed to revive upward momentum.