Ethereum, the second-largest cryptocurrency, shows signs of slowing its growth after a recent rally. Currently, ETH hovers above $4,600, with traders awaiting market direction.
Ethereum Price Action
Ethereum has been trading within a range between $4,520 and $4,720. The structure remains bullish, but the failed attempt to break above $4,950 indicates resistance is proving difficult to crack.
Support and Resistance Levels
Immediate support lies at $4,520–$4,550. A break below could drag ETH back toward $4,400–$4,420, with further downside risk to $4,300–$4,320. On the upside, reclaiming $4,720 would open the door to $4,850–$4,900, with the potential for another retest of the $4,950 zone.
Short-Term Outlook
For the next 24–48 hours, Ethereum is likely to remain within the $4,520–$4,720 range.
Bullish scenario: A breakout above $4,720 could fuel a run toward $4,850–$4,900, with a chance of retesting the $4,950 peak.
Bearish scenario: A breakdown under $4,520 would bring $4,400 back into play, with further downside risk if that level doesn’t hold.
Ethereum's rally has slowed, but the market still appears healthy. With shorts piling in and leverage cooling down, a breakout above resistance could move quickly. For now, ETH remains trapped in its range, and traders should be prepared for volatility once it breaks.
