Ethereum Defies Gravity – Surging Price Signals Bullish Run Ahead

Ethereum isn't just holding its ground—it's priming for another leg up. The second-largest crypto by market cap keeps teasing traders with stubbornly high valuations, refusing to buckle under typical summer doldrums. Here's why ETH bulls aren't sweating.

The technicals scream accumulation

No flashy 10% pumps here—just steady, relentless buying pressure that's got shorts nervous. That 'elevated' trading range? Institutional fingerprints all over it. (Wall Street's 'smart money' playbook: buy quietly, then take credit for the obvious.)

Macro winds at ETH's back

While traditional markets obsess over Fed whispers, Ethereum's decentralized economy keeps expanding. NFT volumes creeping up, DeFi TVL grinding higher—real usage that doesn't care about Jerome Powell's coffee habits.

The cynical kicker

Let's be real—half these 'price analysis' hot takes are just hedge funds justifying positions they opened weeks ago. But when the charts and fundamentals actually align? Even the suits can't screw that up.

Ethereum Price Corrects Some Gains

Ethereum price remained supported above the $3,720 level and started a fresh increase, like Bitcoin. ETH price traded above the $3,800 and $3,850 resistance levels.

There was a move above the $3,880 level. The price tested the $3,920 zone. A high was formed at $3,939 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $3,515 swing low to the $3,939 high.

Besides, there was a break below a key bullish trend line with support at $3,800 on the hourly chart of ETH/USD. ethereum price is now trading near $3,800 and the 100-hourly Simple Moving Average.

On the upside, the price could face resistance NEAR the $3,820 level. The next key resistance is near the $3,840 level. The first major resistance is near the $3,880 level. A clear move above the $3,880 resistance might send the price toward the $3,940 resistance.

An upside break above the $3,940 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120 in the near term.

Another Drop In ETH?

If ethereum fails to clear the $3,820 resistance, it could start a downside correction. Initial support on the downside is near the $3,720 level. The first major support sits near the $3,700 zone.

A clear move below the $3,700 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,420.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $3,720

Major Resistance Level – $3,820