ETH trades at crucial ascending trendline while bulls defend support levels
Ethereum is navigating a pivotal moment in its market structure as the price consolidates around $4,470. The cryptocurrency is holding above a rising trendline support, while traders eye whether ETH can build momentum for another push toward its recent swing highs.
The 4-hour chart shows Ethereum maintaining an ascending support line from August lows, keeping the broader uptrend intact. Price is currently testing the $4,450–$4,500 support zone, marked by strong buying interest in recent sessions.
On the upside, ETH faces a resistance area around $4,700–$4,800, where sellers previously stepped in. Beyond this zone, the next target would be the psychological $5,000 level, labeled as a “weak high” in recent chart patterns.
Analysts highlight that holding the current trendline is critical. If Ethereum closes below $4,450, it could retest the $4,200 green support area, while a deeper drop might expose the $3,900–$4,000 demand zone.
Market commentators note the current setup reflects a tug-of-war between bulls and bears.According to BITX r , “Ethereum is showing resilience by respecting its ascending trendline, but the lack of strong follow-through above $4,700 suggests caution.”
Ethereum remains in a constructive structure, but faces a decisive test in the days ahead. Failure to defend $4,450 support could shift sentiment toward short-term weakness, while a breakout over resistance may reignite the broader bullish trend.
For now, ETH continues to consolidate between critical levels, with traders watching closely for confirmation of its next directional move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.