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Ethereum Nears Critical Price Zone: Relief Rally Ahead?

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Ethereum is trading just below a key resistance level after holding support at $3,800.

Market focus is now on whether buyers can push through the overhead pressure or if the price will face another rejection.

ETH Holds at $3,800, Approaches Resistance Band

ETH has recovered from recent lows and is currently trading around $4,000. The asset found support in the $3,790 to $3,815 area, which has consistently acted as a base in recent sessions. Below this level, another support zone sits between $3,550 and $3,670, offering a stronger floor if needed.

Analyst Ted noted that Ethereum has once again bounced from $3,800 and is now testing the $4,000 to $4,100 resistance zone. This range has shown strong selling pressure in the past. If buyers can close above this area, the next target lies near $4,236 to $4,265. This level has previously acted as both support and resistance, which may attract renewed selling activity.

The current structure suggests the price remains in a defined range. Multiple scenarios remain possible depending on how the asset reacts to the resistance zone.

Technical Pattern Points to Possible Breakout

On the 3-day chart, Ethereum appears to be forming a classic cup-and-handle setup. The cup took shape between January and August, as prices gradually recovered from a prolonged downturn. After reaching previous highs, the asset entered a consolidation phase.

The handle is forming as a downward-sloping channel. Analyst Trader Tardigrade highlighted three touches on both the upper and lower bounds of the channel, suggesting a controlled range. The chart shows ETH still within this formation. A confirmed move above the top of the channel may suggest a continuation to the upside. The analyst said,

A clean breakout on higher volume would likely validate the setup.

Sentiment Shifts as Key Events Approach

Additional commentary from Joe Swanson described a triple bottom around $3,750, calling it a potential setup for a breakout. He added that a move above $4,000 could lead to a 10% rally toward $4,280. EtherWizz noted that the market is entering a Wyckoff-style reaccumulation phase and expects $7,000 if $4,200 is reclaimed.

However, CPI data is expected, and the Federal Reserve’s meeting next week could affect sentiment. Ted wrote,

“These events could bring some buy pressure in Ethereum and result in a short squeeze.”

Key Levels Remain in Focus

While Ethereum continues to trade near resistance, many traders remain cautious. Lennaert Snyder noted that he is watching the $4,050 level for potential short positions if resistance holds, or long entries if the price breaks through with strength.

Ethereum remains in a tight range. A breakout above $4,100 would shift momentum and could attract stronger buying, while a rejection may lead to another retest of support. Traders are watching how the asset reacts to this zone.

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