Ethereum Primed for a Spectacular Rebound – Is the Next Bull Run Imminent?

Ethereum's price action hints at a brewing storm—traders are betting big on a comeback after weeks of sideways movement.

Market whispers suggest institutional players are quietly accumulating ETH, eyeing the next leg up. Meanwhile, retail FOMO lingers like stale coffee at a hedge fund breakfast.

Technical indicators flash green: RSI coils near oversold territory while the 200-day MA holds firm. If Bitcoin's halving momentum spills over, ETH could ride the wave toward new highs.

Just remember—when Wall Street 'discovers' crypto again, it's usually time to check your exit strategy.

Ethereum Price Holds Support

Ethereum price struggled to extend gains above the $3,940 level, like Bitcoin. ETH price started a downside correction from the $3,939 high and traded below $3,900.

The price traded below the $3,820 support level and settled below the 23.6% Fib retracement level of the upward move from the $3,515 swing low to the $3,939 high. Moreover, there is a bearish trend line forming with resistance at $3,840 on the hourly chart of ETH/USD.

However, the price is steady above the $3,720 support and the 50% Fib retracement level of the upward move from the $3,515 swing low to the $3,939 high. ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average.

On the upside, the price could face resistance NEAR the $3,840 level. The next key resistance is near the $3,880 level. The first major resistance is near the $3,940 level. A clear move above the $3,940 resistance might send the price toward the $3,965 resistance.

An upside break above the $3,965 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 $3,840 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 $3,680 zone.

A clear move below the $3,680 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 – $3,840