Ethereum hits bottom and rebounds! Breaking through the key trend line at $3810, long positions are pushing towards the $4000 mark | ETH price prediction

Ethereum(ETH) is finding strong support near $3680, successfully breaking through the resistance of the descending trend line on the hourly chart at $3810, and currently stabilizing above $3820 and the 100-hour moving average. The technical indicators are strengthening, and if it can hold the $3800 support, ETH is expected to initiate a new round of upward movement, targeting the resistance zone of $3940-$3980, and even challenging the high of $4050-$4120. In the short term, it is necessary to be cautious about whether the $3880 resistance level can be effectively broken; otherwise, there may be a risk of a pullback to the $3720 support.

【Key support shows effect, ETH rebounds strongly】 Ethereum ( ETH ) price has pulled back from a high of $3940 (the trend is similar to Bitcoin), briefly falling below the key support levels of $3900 and $3800. Bears even pushed the price down below the 50% Fibonacci retracement level from the low of $3515 to the high of $3940, and briefly pierced through $3700 and the 100-Hourly SMA (, ultimately finding buying support in the $3680 support area. Bulls successfully defended the 61.8% Fibonacci retracement level of the upward range from $3515 to $3940, driving the price back into an upward trend. More importantly, the ETH/USD hourly chart successfully broke through the resistance of the descending trend line located at $3810, releasing a strong bullish signal.

![])https://img.gateio.im/social/moments-87a9b3933a-f858083210-153d09-7649e1(

(Source: TradingView)

【Current Trend and Key Resistance Levels】 As of the analysis, the ETH price has stabilized above $3820 and the 100-hour moving average, showing a bullish pattern.

• Upward resistance path:

  1. Recent primary resistance level: 3880 USD
  2. Next key resistance level: 3920 USD

3. Main resistance area: 3940 USD (previous high area)

• Breakthrough scenario at $3940: If it can strongly break through the $3940 resistance, the price is expected to attack the $3980 resistance level.
• Breakthrough Scenario at $3980: Successfully standing above $3980 will open up greater upward space, and in the short term, ETH may challenge the target area of $4050 and even $4120.

[Downside Risks and Support] If ETH fails to effectively break through the 3880 USD resistance, it may trigger a short-term fall.

• Downward support path:

  1. Initial support level: 3800 USD (recent bull-bear watershed)
  2. First main support level: 3720 USD
  3. Secondary support level: 3680 USD (recent rebound starting point)
  4. Key support level: 3565 USD
  • Extreme Risk Level: $3500 (psychological barrier and strong support)

[Technical Indicator Analysis]

• Hourly MACD: The MACD indicator for ETH/USD is in the bullish zone with increasing momentum, supporting the upward expectation.
• Hourly RSI: The Relative Strength Index ) RSI ( has risen above the neutral zone of 50, indicating a recovery in market buying strength.
• Key support level: 3800 USD
• Key resistance level: $3880

Conclusion: Ethereum successfully maintained the key support at 3680 USD and broke through the hourly downtrend line, significantly improving the technical structure. The strengthening MACD momentum and the RSI returning above 50 build momentum for challenging the 3940-3980 USD resistance zone. The short-term focus is on whether it can effectively break through 3880 USD and stabilize above the 3800 USD support. If it successfully breaks through the previous high of 3940 USD, it will greatly boost market confidence, driving ETH towards 4000 USD and even 4120 USD. Traders need to closely monitor the breakthrough at 3880 USD and the strength of the 3800/3720 USD support, preparing for bidirectional volatility. Overall, the technical balance has tilted towards the bulls, but caution is needed for the pullback risk before the key resistance level.