Ethereum has been moving in a tight but very important range, with traders watching every single level closely. Let’s break down the recent journey:
Aug 28–29: ETH climbed strongly, testing the $4,550–$4,600 zone, where sellers stepped in. This area has now become short-term resistance. Aug 30: A sharp intraday pullback saw ETH dip toward $4,380 but buyers defended the level quickly, showing strong demand around the 50-day moving average. Aug 31: Price stabilized between $4,400–$4,450 with volume dropping a sign of consolidation after the earlier volatility. Sep 1: ETH tested lower again, touching $4,350, but recovered by the daily close near $4,420, confirming that $4,350 is a critical support. Sep 2: Another rally attempt pushed ETH near $4,480–$4,500, but momentum faded and sellers capped the move. Sep 3 (latest): ETH is hovering around the $4,400 mark still holding above support but unable to push through \$4,500 resistance decisively.
Key levels to watch now: Support: $4,350 (must hold to avoid deeper correction toward $4,200–$4,000). Resistance: $4,600 (a clean breakout above here opens the path to $4,950–$5,000). Trend anchor: As long as ETH stays above the 50-day moving average, the broader uptrend remains intact but slowing momentum suggests more sideways chop in the short term.
My take: Ethereum is in a “patience zone.” Every dip toward $4,350 is being bought, but every push toward $4,600 is being sold. Traders can range-play inside this band, while long-term holders may just sit tight and wait for the breakout confirmation.
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#ETH Trend Watch#
Ethereum has been moving in a tight but very important range, with traders watching every single level closely. Let’s break down the recent journey:
Aug 28–29:
ETH climbed strongly, testing the $4,550–$4,600 zone, where sellers stepped in.
This area has now become short-term resistance.
Aug 30:
A sharp intraday pullback saw ETH dip toward $4,380 but buyers defended the level quickly, showing strong demand around the 50-day moving average.
Aug 31:
Price stabilized between $4,400–$4,450 with volume dropping a sign of consolidation after the earlier volatility.
Sep 1:
ETH tested lower again, touching $4,350, but recovered by the daily close near $4,420, confirming that $4,350 is a critical support.
Sep 2:
Another rally attempt pushed ETH near $4,480–$4,500, but momentum faded and sellers capped the move.
Sep 3 (latest):
ETH is hovering around the $4,400 mark still holding above support but unable to push through \$4,500 resistance decisively.
Key levels to watch now:
Support:
$4,350 (must hold to avoid deeper correction toward $4,200–$4,000).
Resistance:
$4,600 (a clean breakout above here opens the path to $4,950–$5,000).
Trend anchor:
As long as ETH stays above the 50-day moving average, the broader uptrend remains intact but slowing momentum suggests more sideways chop in the short term.
My take:
Ethereum is in a “patience zone.” Every dip toward $4,350 is being bought, but every push toward $4,600 is being sold. Traders can range-play inside this band, while long-term holders may just sit tight and wait for the breakout confirmation.