Ethereum Pulls Back—Traders Eye $4,200 as Make-or-Break Level

Ethereum takes a breather after its bull run—but the real action kicks in at $4,200.

Key level alert: Market watchers are glued to ETH's next move as it tests a critical resistance zone. Break through? Rally resumes. Reject? Brace for consolidation.

Meanwhile, Bitcoin maximalists are quietly seething—because nothing ruins their day like altcoin outperformance.

Pro tip: If Wall Street starts calling this a 'healthy correction,' check your portfolio. They usually say that right before the dump.

Ethereum Price Dips Again

Ethereum price failed to recover and started a fresh decline below the $4,650 zone, like Bitcoin. ETH price gained bearish momentum and traded below the $4,450 support zone.

The bears were able to push the price below the $4,350 support zone. Finally, the price tested the $4,220 zone. A low was formed at $4,228 and the price is now attempting to recover. There was a MOVE above the 23.6% Fib retracement level of the recent decline from the $4,581 swing high to the $4,228 low.

Ethereum price is now trading below $4,450 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance NEAR the $4,375 level. The next key resistance is near the $4,400 level. It is close to the 50% Fib retracement level of the recent decline from the $4,581 swing high to the $4,228 low.

The first major resistance is near the $4,450 level. There is also a bearish trend line forming with resistance at $4,450 on the hourly chart of ETH/USD. A clear move above the $4,450 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 $4,400 resistance, it could continue to move down. Initial support on the downside is near the $4,220 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 $4,150 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 – $4,400