- Ethereum short-term bullish momentum depends on holding $4,350 as critical support, with breakdown risk toward $4,000.
- The structure of the charts indicates a possible $W formation, indicating a consolidation first before an explosion to reach a high of $4,800-5,000.
- ETH trades within a range of 4,183-4,933 area and a retest of 4,933 could open new cycle highs over 5,000.
Ethereum price action shows that a vital support level of $4,350 is decisive in supporting the bullish trend. Market structure is exhibiting increased lows, which indicates that the buyers remain powerful even after a drastic market fluctuation. The short-term outlook hinges on this level as a pivot for either continuation or correction.
Support and Short-Term Setup
Ethereum has defended the $4,350 region, which aligns with recent consolidation after repeated rejections near higher resistance. Price patterns indicate a possible “W” formation, signaling accumulation before a potential breakout. Sustained defense of this zone increases the likelihood of testing the $4,800–$5,000 range.
The setup favors continuation if bulls maintain control and reclaim momentum above the recent high at $4,933. A successful breakout could extend gains toward fresh cycle highs. However, failure to hold $4,350 risks reversing sentiment in the short term.
If the level breaks, Ethereum could retrace toward $4,000, eroding its current bullish structure. Such a decline would shift focus to broader supports near $3,800. Therefore, the immediate reaction around $4,350 carries significant weight for trend direction.
Price Action and Wider Range
ETH trades at 4,329.31 with a 15.02 percentage increase every month, or about 566.35 in the last thirty days. Even with pullbacks, ETH is moving upwards in comparison with the beginning of August. This is an indication of endurance amidst the wider market circumstances.
The coin has been tested late in August at 4,933.60, and further gains were hampered at the psychological 5,000 level. This obstacle keeps on limiting bullish continuation. Consolidation within the $4,183 to $4,933 range underscores market indecision at current levels.
Breakout of above $4,933 may create a break of new cycle peaks above 5,000. On the other hand, the inability to protect a sum of money of 4,183 might trigger an even greater decrease. In general, Ethereum is positively biased above 4200, though the short-run momentum will rely on the ability to regain resistance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
