Ethereum is currently trading below $4,100, with its price failing to hold above $4,800, signaling a potential return to lower levels. A bearish MACD crossover on the weekly chart has raised alarms, as highlighted by analysts like Washigorira and Ali Charts. Historically, such crossovers have led to significant price declines—43.16% and 60.74% in previous instances—suggesting Ethereum could drop to the $2,400–$2,500 range if bearish momentum persists.
Short-term support lies between $3,780 and $3,900, a zone where Ethereum has stabilized after pulling back from $4,727. Analyst Kamran Asghar notes that holding this support could allow ETH to retest resistance at $4,448 or even $4,727, but a break below $3,780 may trigger a deeper correction. Institutional confidence remains, with Bitmine acquiring $418 million worth of ETH, and public figures like Robert Kiyosaki expressing bullish sentiment.
However, not all analysts are bearish; Crypto Rover points to a potential bull flag pattern, indicating that a breakout from the current consolidation could propel ETH toward new all-time highs of $7,000 to $8,000. Daily charts show weakness, with the RSI cooling to 44.5, and traders await clearer signals as volatility increases. The market remains divided, with both bulls and bears preparing for a defining move by year-end.
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