Ethereum is at a crucial crossroads, teetering on a critical support level that could determine its short-term future. A breakthrough may lead to further decline, yet a technical rebound remains possible. Investors should closely monitor the upcoming days for pivotal developments.
Looking at the daily chart, we can see that Ethereum has fallen below its trading zone this week, similar to what happened on August 19. Back then, the price quickly rebounded towards $4,400. The current situation, however, is far less encouraging. Trading volume remains low, making a rapid reconquest of this zone unlikely.
If the price drops below $4,075, we should expect a more substantial decline. The area around $3,850 would then be the first level where buyers might step in. But we’re not there yet. For now, the Ethereum price is consolidating in a narrow range, between the support at $4,085 and the lower part of the channel at $4,200.
On the hourly chart, this consolidation is clearly visible. We now must wait to see what the next price action will be. But such a stagnation phase without a strong reaction typically indicates a continuation of the bearish trend.
In this case, another drop toward $3,850 should be seriously considered. Only a convincing rebound with significant volume above $4,200 up to $4,400 would rule out this scenario.
This Ethereum decline coincides with the correction experienced by Bitcoin (BTC). The BTC chart shows a similar evolution to that of ETH. It seems that Ethereum’s fate is tied to that of the leading cryptocurrency. We now hope for a BTC recovery above $113,000. Because if the BTC price falls back below $112,500, it could drag the entire altcoin market downward.
Periods of doubt often offer the best accumulation opportunities. Ethereum, despite its current turbulence, remains an essential pillar of the crypto ecosystem, supported by DeFi, NFTs, and its constant innovations. Those who know how to buy during fearful periods are often those who reap the biggest gains when the market rebounds. Here’s how to buy ETH on Bitget before a possible bullish reversal :
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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