Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereumis currently under pressure inside a falling channel, consolidating after its recent rally. With $4,150 acting as key support, ETH seems to be preparing for a bounce back toward the $4,788 resistanceand all-time high zone. ETH Holds Steady Near $4,190 As $4,150 Support Faces Test
Ash Crypto, in his recent Ethereum 4H chart analysis sharedon X, pointed out that ETH is currently trading around $4,190, holding just above the key $4,150 support zone. This level has been acting as an important cushion for price action. Related Reading Ethereum Breaks Above Key Level Against Bitcoin, Sparking Bullish Cycle Talk 5 days ago
He further noted that Ethereum’s price movement is unfolding within a falling channel, a pattern that typically reflects short-term corrective pressure. This comes after the strong upward rally seen earlier this month, suggesting that the marketis currently pausing and consolidating gains before deciding its next major direction. Source: Ash Crypto on X
According to the analyst, if buyers can defend the $4,150 support, ETH may gain sufficient strength to attempt a breakout from the channel. Such a move could pave the way for a retest of the $4,788 resistance level or the all-time highzone. A successful push above this area would likely ignite renewed bullish momentum and possibly extend the larger uptrend.
On the other hand, if the $4,150 level gives way under sustained selling pressure, Ethereum could face a deeper retracement. The next strong support lies around $3,900, a level that aligns with higher-timeframe support zones. This makes it a crucial area for bullsto defend, as a failure to hold there could shift market sentiment and signal the start of a more extended correction. Ethereum’s Next Move Hinges On Key Price Levels
In his analysis of Ethereum, Ash Crypto emphasized the importance of momentum and key levels to watch closely. He pointed out that ETH is currently trading within a short-termbearish structure, characterized by a series of lower highs and lower lows on the chart. Related Reading Ethereum Nears $5,000 After 45% Monthly Rally, Whale Buying and Regulatory Clarity Fuel Surge 1 week ago
Despite this temporary weakness, Ash highlighted that a breakout above the falling channel would be a major shift in momentum. Such a move would flip the current bearish outlook into a bullish one, signaling the possibility of renewed upside pressure and a potential continuation of the broader uptrend.
On the downside, the most critical support remains at $4,150. If this level fails to hold, the next strong support can be found at $3,900. As for the upside, the resistance to watch is $4,788. A successful retest and breakout above this level would likely confirm a strong bullish reversal, opening the door for ETH to push into uncharted territory. ETH trading at $4,202 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com