Ethereum Price Dips Again – Will Bulls Defend This Make-or-Break Support Zone?

Ethereum stumbles as bears push prices toward critical demand levels. All eyes on whether buyers will show up or let gravity take over.

Key Levels in Play

The ETH chart flashes warning signs as it retests a historically significant price floor. Break this, and the elevator might just keep going down.

Market Psychology Watch

Traders are split between bargain hunters smelling opportunity and panic sellers cutting losses. Classic crypto volatility at work—where emotions move faster than fundamentals.

Institutional Whisper Factor

Rumors swirl about whale accumulation below current prices. Then again, we’ve all heard that before during previous ‘dips’ that kept dipping.

Closing Thought

Whether this is the buy-the-dip moment or another trap door depends on who blinks first—weak hands or true believers. Meanwhile, Wall Street still can’t decide if crypto is an asset class or a meme.

Ethereum Price Dips Further

Ethereum price failed to accelerate higher above the $4,750 zone, like Bitcoin. ETH price reacted to the downside and traded below the $4,650 support zone.

The bears were able to push the price below the $4,550 support zone. There was a clear MOVE below the 61.8% Fib retracement level of the upward move from the $4,170 swing low to the $4,782 high. Besides, there is a bearish trend line forming with resistance at $4,520 on the hourly chart of ETH/USD.

Ethereum price is now trading below $4,550 and the 100-hourly Simple Moving Average. It is now trading NEAR the 76.4% Fib retracement level of the upward move from the $4,170 swing low to the $4,782 high.

On the upside, the price could face resistance near the $4,380 level. The next key resistance is near the $4,440 level. The first major resistance is near the $4,500 level. A clear move above the $4,500 resistance might send the price toward the $4,550 resistance.

An upside break above the $4,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,650 resistance zone or even $4,720 in the near term.

More Losses In ETH?

If ethereum fails to clear the $4,500 resistance, it could continue to move down. Initial support on the downside is near the $4,240 level. The first major support sits near the $4,200 zone.

A clear move below the $4,200 support might push the price toward the $4,180 support. Any more losses might send the price toward the $4,050 support level in the near term. The next key support sits at $4,000.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

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

Major Support Level – $4,200

Major Resistance Level – $4,500