Ethereum News Today: Ethereum Re-tests $3,800 Resistance as Trading Volume Surges 37.95% to $28.91 Billion

Ethereum (ETH) faces a pivotal test near $3,800 as it re-approaches a key resistance zone for the fourth time, with trading volume surging 37.95% in the past 24 hours to $28.91 billion. The asset has fluctuated between $3,610 and $3,750 in recent sessions, with analysts closely monitoring whether it can overcome a persistent supply wall between $3,780 and $3,820—a level that has repeatedly capped upward momentum since July 25 [1].

Technical indicators suggest mixed signals. The Relative Strength Index (RSI) shows bearish divergence, with waning buying pressure evident in declining volume during recent rallies. Meanwhile, ETH’s price action remains in a consolidation phase after a mid-July surge pushed it near $3,750, only to retreat to $3,660 during a temporary pullback. Analyst Michaël van de Poppe highlighted the significance of Bitcoin’s performance, predicting that a breakout above $120,000 could trigger a 6.3% move in ETH to $4,000, potentially catalyzing double-digit gains across altcoins [1]. As of press time, ETH traded near $3,741, just below the critical $3,820 threshold.

A successful breakout above $3,820 would likely remove immediate bearish signals and open the path to local highs near $3,900. However, a failure to hold this level could see a 12.8% pullback to $3,260, where liquidity from past stop orders might temporarily stabilize the price. Deeper support zones are identified at $2,850 to $2,700 and $1,000 to $1,400, levels that have historically cushioned corrections [1].

The market’s broader context remains stable, with Ethereum’s market capitalization holding steady at $455.22 billion. Despite volatile swings, the asset has avoided a major sell-off, reflecting resilience in its price structure. Van de Poppe noted that the absence of a deep correction—despite four attempts to breach resistance—suggests strong accumulation by institutional or long-term holders.

Critical junctures lie ahead. If ETH fails to break above $3,820, the RSI divergence and reduced volume could signal renewed downward pressure, potentially testing the $3,400 to $3,200 range. Conversely, a sustained move beyond $3,820 could align with extended technical targets near $4,200, particularly if Bitcoin continues its bullish trajectory. The next few weeks will determine whether Ethereum solidifies its position as a mainstream institutional asset or faces renewed bearish challenges in the $3,200 to $3,400 corridor [1].

Source: [1] [Ethereum Eyes $4K as it Retests Key Resistance With Surge in Trading Volume](https://coinedition.com/ethereum-eyes-4k-as-it-retests-key-resistance-with-surge-in-trading-volume/)