Ethereum (ETH) is struggling to hold ground after slipping below $4,120, raising concerns of further losses if the $4,050 and $4,000 support levels fail to hold.
ETH Faces Strong Bearish Pressure
Ethereum’s decline followed a rejection near $4,320–$4,300, with bears driving the token lower alongside Bitcoin. ETH briefly recovered from a $4,000 low, climbing above the 23.6% Fib retracement of the $4,635 swing high to the $4,000 drop.
However, resistance near $4,250 capped gains, pushing ETH back below $4,150 and its 100-hourly SMA. A bearish trend line has also formed with resistance at $4,360, making recovery attempts more difficult.
Key Levels to Watch
Immediate resistance: $4,150 and $4,220
Major resistance: $4,250 and $4,360
Immediate support: $4,050
Critical support: $4,000, followed by $3,880 and $3,820
If ETH clears $4,250–$4,360, a rally toward $4,450–$4,550 is possible. But failure could see bears push the price below $4,000, risking further losses toward $3,750.
Indicators Signal Weakness
The hourly MACD shows bearish momentum, while the RSI remains under 50, signaling sellers are still in control. Unless ETH breaks resistance levels soon, the market may test lower supports in the coming sessions.
Outlook
Ethereum’s outlook remains cautious as traders eye whether bulls can defend $4,000 support. A decisive bounce above $4,250 could revive short-term optimism, but a breakdown may trigger double-digit losses in the days ahead.
Disclaimer: This is a sponsored press release. CryptosNewss does not endorse or guarantee the content. Readers should verify facts and conduct independent research before making financial decisions.
