ETH price stabilizes as bulls defend key support levels, signaling renewed market confidence
Ethereum (ETH) is showing signs of renewed strength after rebounding sharply above the $4,100 level, maintaining its uptrend despite the recent market volatility. Following last week’s sharp sell-off, which triggered billions in liquidations across the crypto market, ETH’s resilience above crucial technical zones has caught the attention of analysts and traders alike.
The second-largest cryptocurrency by market capitalization is now trading above a major ascending trendline, suggesting that bullish market structure remains intact. Technical data indicates strong buying momentum near the $3,800–$4,000 demand zone, where price action repeatedly found support throughout the year.
“Ethereum’s ability to hold above its rising trendline despite heavy selling pressure is a positive sign,” said BITX market analyst. “It shows that institutional demand remains healthy, and traders are positioning for a potential breakout in Q4.”
On the daily chart, $4,930 stands out as the next major resistance level — a region that previously rejected price rallies earlier this year. A break and close above this zone could open the path toward a new yearly high, especially as on-chain metrics show declining exchange reserves, indicating reduced sell pressure.
Meanwhile, support lies near $3,900, with an extended base around $3,500, aligning with historical accumulation levels. Trading volume has also normalized after the October 6th spike, reflecting a cooling yet stable market sentiment.
Following Bitcoin’s brief surge above its new all-time high this month, Ethereum’s technical recovery signals improving confidence across the broader crypto market. Despite macroeconomic uncertainty, long-term holders appear to be re-entering positions as ETH maintains its dominance within the DeFi and layer-2 ecosystem.
Holding above $4,100 marks a critical juncture for Ethereum’s trend continuation. If bullish momentum persists, analysts believe ETH could challenge the $4,900 resistance, setting the stage for a potential retest of psychological levels above $5,000 in the coming weeks.
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.