Ethereum has paused after a modest correction in early September, with ETH/USDT trading around $4,573–$4,608 as of today. The immediate picture is one of short-term fatigue—especially on the 2-hour and 4-hour charts, where MACD and CMF have turned negative and selling volume is evident. However, this weakness is not mirrored on the broader timeframes, which continue to exhibit robust bullish momentum. The 6-hour, 12-hour, and particularly the daily and weekly charts all show MACD above signal, DMI with positive +DI, and RSI holding above 50–60, signaling underlying strength.
Yesterday’s price action saw ETH test and briefly break below $4,600, but support at $4,540 (2H DEMA 210) has held so far. This is important structurally, as the longer DEMA lines on the weekly and daily charts suggest major support is further below, but the near-term zone is holding for now. Resistance is clearly marked just above $4,640 (6H, 12H, 1D DEMA 140/70), a level that must be reclaimed to confirm upside continuation. The ceiling—the next logical target—sits at $4,700–$4,800, and until that is tested, volatility is likely to persist.
Compared to last week, today’s setback is modest and in line with healthy retracements during broader uptrends. The major difference is that short-term momentum indicators are no longer overbought, which resets conditions for the next push higher—should buyers return. If, however, we see a failure to hold $4,540, the risk of a deeper correction toward $4,300–$4,400 rises.
Looking ahead, the most probable scenario is sideways action between $4,540 and $4,643 for the next 24–48 hours, followed by another attempt to break higher if the weekly uptrend holds. Aggressive bears may be tempted by the short-term sell signals, but the path of least resistance remains upward unless $4,500—a crucial support zone—is breached.
In summary: The market is taking a breather, digesting recent gains, but the bullish structure remains intact on higher timeframes. While today’s action may feel uncertain, the overall trend is still favorable for ETH bulls. Expect chop, watch the $4,540 support, and prepare for a possible upside breakout above $4,643 in the coming sessions.
#Ethereum #ETH #TechnicalAnalysis #Crypto #TrendIsUp #Consolidation
#Ethereum #ETH #TechnicalAnalysis #Crypto #TrendIsUp #Consolidation
#Ethereum #ETH #TechnicalAnalysis #Crypto #TrendIsUp #Consolidation
Indicators graph +-1 bullish bearish , +-0.5 weak exhausted bullish bearish , bar extending -0.5 to +0.5 neutral ( no direction)
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