In Brief
- •Ethereum faces $58M sell wall near $3,825, keeping price capped below resistance.
- •Strong support holds between $3.3K–$3.5K, but bearish momentum still dominates short term.
- •A breakout above $4,800 is needed to confirm bullish reversal and target higher levels.
Ethereum is trading around $3,798, facing strong resistance between $3,825 and $3,826, where sell orders exceed $58 million. This zone continues to act as a key barrier, as sellers remain firmly in control across all timeframes.
Meanwhile, price action reflects weakness, with ETH dropping 0.79% in the last hour and over 7% in the past 24 hours. The weekly decline now totals 16.83%, reinforcing ongoing selling momentum in the broader market.
Buyers are concentrated near $3,800 to $3,807, with demand totaling around 11 million units, yet resistance remains unbroken. Below this level, moderate buying interest emerges between $3,700 and $3,500, matching previous accumulation seen from $3,300 upward.
The Ichimoku Cloud indicates ongoing consolidation as ETH trades inside it, reflecting short-term indecision and muted directional bias. For momentum to shift upward, ETH must exit the cloud and confirm a bullish Tenkan-Kijun crossover.
Key Technical Zones Under Watch
The 200 EMA provided strong support near $3,500, a level already favoured for dollar-cost averaging by some analysts. RSI remains below 50, indicating bearish sentiment, but a bounce could occur if momentum recovers.
A short-term rebound could push price toward $4,250, where the 21 and 50 EMAs now serve as immediate resistance. If broken, these levels could open the door to $5,000 in a renewed bullish wave.
On the downside, analysts highlight the $3,000 zone as a key support if current levels fail to hold. The previous $3,900 support has flipped to resistance, suggesting further downside remains possible in the near term.
For ETH to aim toward $10,000, a decisive break above $4,800 is required, aligning with longer-term breakout targets. Until then, Ethereum remains trapped in a range, with sellers controlling momentum and buyers defending lower support bands.