Ethereum is knocking on the $4,000 door again, but will it break through this time? After a solid upward move past $3,800 and $3,840, ETH is now trading in a bullish zone, with momentum building according to technical indicators.
Currently, Ethereum faces key resistance levels at $3,900, $3,920, and a major hurdle at $3,950. A clean breakout above $3,950 could open the doors for a rally to $4,000.
If that happens, Ethereum might not stop there—it could rise toward $4,050 or even reach $4,200 in the short term.
On the other hand, if ETH fails to break past the $3,920 resistance, a downside correction could ensue. The initial support lies at $3,820, with a more significant safety net at $3,800.
A dip below $3,800 might drag the price toward $3,750, and even further to $3,700 or $3,640 if bearish pressure increases.
Technical indicators are currently favoring the bulls. The hourly MACD is gaining momentum in the bullish zone, while the RSI for ETH/USD remains comfortably above the 50 level—suggesting buyers still have the upper hand.
Traders are watching closely. A breakout above $3,950 could trigger FOMO and draw more volume into the ETH market. However, failure to maintain the current levels might lead to another wave of selling pressure.
Source: Kraken ETH/USD chart data
