Ethereum News Today: Ethereum Trapped Between $4,150 Support and $4,650 Resistance Key Levels

Ethereum’s price action remains fixated on two critical levels: $4,150 as a foundational support and $4,650 as a key resistance. The cryptocurrency has demonstrated resilience near the $4,150 zone, where approximately 340,000 ETH has been accumulated, reinforcing a strong base of conviction among holders and acting as a buffer against further downward movement [1]. This accumulation has solidified the area as a reliable price floor, stabilizing the market during retracements and underpinning longer-term bullish sentiment.

On the upside, $4,650 has emerged as a pivotal resistance level. Recent price tests of this barrier have shown mixed results, with Ethereum briefly reaching $4,600 but failing to secure a weekly close above the critical $4,650 mark [2]. Analysts highlight that a weekly close beyond this level would validate a continuation of the bullish trend and unlock further upside potential. The inability to maintain momentum above this level has led to short-term volatility, despite strong intraday volume and a peak near $4,563 earlier in the session [3].

Intraday trading has also revealed a tug-of-war between buying momentum and profit-taking pressures. Volumes surpassed 140 million, with green bars reflecting strong demand and red spikes indicating short-term profit-taking. The price held above $4,530, showing the strength of intermediate support during active trading periods. However, the path forward remains dependent on Ethereum’s ability to maintain a weekly close above $4,650 to confirm sustained upward momentum [4].

The broader market structure now hinges on these two levels. A breakout above $4,650 would signal a shift in sentiment, potentially triggering a new wave of upside. Conversely, a failure to hold above $4,530 could lead to a retest of the $4,150 support, where the accumulated ETH may once again step in to stabilize the price.

As Ethereum continues its battle for the next breakout, the interplay between these levels provides a clear framework for understanding the immediate trajectory of the asset. Investors and traders are closely monitoring these price points, as they serve as key markers for both bearish and bullish scenarios.

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[1] Ethereum’s $4,150 Foundation and $4,650 Barrier: The Battle for the Next Breakout (https://coinmarketcap.com/community/articles/68a1e2a958fc0d64763c8d72/)