Ethereum traded between $4,298 and $4,335 over the past hour as the broader market contends with signs of exhaustion near key resistance levels. With a market capitalization of $519 billion and a 24-hour global trade volume of $41.92 billion, ethereum continues to dominate intraday liquidity, fluctuating between $4,239 and $4,563 in the last 24 hours.
Ethereum Price Watch: Bulls Eye $4,550 as Support Holds Steady at $4,300
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Ethereum
On the daily chart, ethereum remains within a long-term uptrend, but recent price action reveals a short-term bearish correction. After surging from approximately $2,932 to a peak near $4,795, the price has since retreated, forming lower highs and closing below previous levels. Increased selling volume on recent candles reinforces the view that a correction is underway. Ethereum is currently testing the $4,200–$4,300 support zone, with immediate resistance overhead in the $4,600–$4,795 range. This zone will be pivotal for determining whether the longer-term uptrend can resume.
From the 4-hour perspective, ethereum presents a more tactical setup with a visible double top around $4,795, followed by a sharp breakdown on August 15 accompanied by high volume. This confirms a distribution phase. The price has since stabilized near $4,226 after a wick-based bounce and is now forming minor rebound candles, hinting at a potential relief rally. However, any bullish momentum is likely to face resistance near $4,400–$4,450. Failure to reclaim this zone may reintroduce selling pressure.
On the 1-hour ether chart, the short-term trend remains bearish, though signs of a potential reversal are emerging. A consolidation range has developed around $4,250–$4,300, supported by a volume spike during the latest leg down and partial recovery. A recent breakout candle above $4,300 with sufficient volume is a key signal. Should ethereum manage a decisive close above $4,350, it would open a window for intraday long opportunities targeting $4,450–$4,550, while maintaining a stop-loss below $4,220.
Technical indicators offer a neutral-to-cautious outlook. Among oscillators, the relative strength index ( RSI) is at 59.4, stochastic at 70.1, and commodity channel index (CCI) at 51.1—all in neutral territory. The average directional index (ADX) at 46.1 also suggests trend strength without a clear directional bias. However, momentum (282.7) and the moving average convergence divergence ( MACD) level at 275.9 both indicate sell signals, adding a degree of skepticism to any bullish thesis in the near term.
Moving averages present a divided picture. The 10-period exponential moving average (EMA) and simple moving average (SMA) are both above current price levels and flashing sell signals. In contrast, the 20, 30, 50, 100, and 200-period EMAs and SMAs remain below market price and indicate buying strength. This divergence suggests that while short-term momentum is under pressure, the broader trend remains structurally bullish—supporting the view that ethereum may be in a healthy consolidation phase before a potential continuation.
Bull Verdict:
If ethereum successfully holds above the $4,300 support level and closes above $4,350 with rising volume, it could confirm a short-term reversal and pave the way for a relief rally toward the $4,450–$4,550 range. The prevailing long-term trend remains intact, supported by broader bullish signals from mid- to long-term moving averages.
Bear Verdict:
Should ethereum fail to sustain above $4,350 or face rejection near $4,450, the current relief rally may be short-lived. A return below $4,220 would invalidate bullish momentum and likely accelerate the corrective phase, with downside targets revisiting the $4,200 and potentially $4,050 levels.
