Ethereum News Today: Ethereum Bounces Near $3,900 as Bulls Target $4,000 Breakout

Ethereum is currently approaching a key resistance level near $4,100, with traders and analysts closely monitoring how the price reacts to this area. The cryptocurrency has shown resilience, bouncing off a primary support range between $3,200 and $3,400, which holds a 70% probability of acting as a strong support zone. In more bearish scenarios, a secondary support level between $2,900 and $3,000 is considered, though it carries a lower 30% probability of holding [1]. The price has maintained above $3,900, indicating that bullish momentum remains intact despite recent volatility [7].

The $4,100 resistance level is a critical threshold for Ethereum. If the price consolidates or stalls near this level, it may allow for stop-loss orders to be cleared or for a temporary retracement before a more sustained move higher [2]. Volume analysis supports the relevance of these key levels, with increased trading activity observed during major price moves. This suggests that the identified support and resistance zones are functioning as expected [1].

Technical indicators offer mixed signals regarding Ethereum’s immediate momentum. The Relative Strength Index (RSI) stands at 65.72, showing continued buying pressure but approaching the overbought threshold of 70. This indicates that while buyers remain in control, caution is warranted as the indicator nears saturation [2]. In contrast, the Moving Average Convergence Divergence (MACD) reflects a weakening in upward momentum. The MACD line at 164.12 remains below the signal line at 181.79, with a histogram value of -17.66 confirming a bearish crossover. This suggests a potential short-term consolidation or a minor pullback [1]. However, if buying pressure intensifies, a bullish crossover between the MACD and signal line could signal renewed strength and align with the RSI’s bullish stance.

Whale activity has also contributed to the positive sentiment, with large holders adding 1.80 million ETH over the past 30 days, a move that suggests growing confidence in the asset’s long-term potential [3]. On the weekly chart, Ethereum has maintained a series of higher lows, reinforcing the possibility of a continuation in the upward trend, provided key levels remain intact [4].

Traders are watching for a decisive move above $4,000, as a sustained breakout could open the door to $4,200 and even $4,350 [7]. A failure to maintain above $3,900, however, could result in a pullback toward the $3,750–$3,700 range, triggering a reevaluation of market sentiment [7]. While technical indicators and whale activity point to a bullish case, analysts emphasize that recent price movements are largely sentiment-driven rather than fundamental [7].

The current price structure of Ethereum reflects a tug-of-war between bullish and bearish forces. The ability to hold above $3,900 remains pivotal, as it would provide the necessary foundation for another attempt at breaking the $4,000–$4,050 resistance zone. With both short-term and medium-term targets in focus, the market awaits a clear directional signal from ETH’s next move.

Source:

[1] BlockchainReporter - Ethereum Is Back To $3900, Opens Up To $4000 Target (https://blockchainreporter.net/wallets/ethereum-is-back-to-3900-opens-up-to-4000-target/)

[3] Mitrade - Ethereum Whales Add 1.80 Million ETH In 30 Days (https://www.mitrade.com/insights/news/live-news/article-3-1025062-20250808)

[4] FastBull - Ethereum ETH At $4500? Wave Theory Meets Open (https://m.fastbull.com/news-detail/ethereum-eth-at-4500-wave-theory-meets-open-4338705_0)

[7] Coindoo - Bitcoin and Ethereum Test Resistance as Traders Eye Breakout or Pullback (https://coindoo.com/market/bitcoin-and-ethereum-test-resistance-as-traders-eye-breakout-or-pullback/)