Ethereum is once again hitting the main resistance level, causing up-to-date emotions in the market. After steadily rising, ETH now faces a key test near the $3,700 level, a zone that could determine whether the bulls regain control or if another pullback is on the horizon
Ethereum Uptrend on the Line – Will Buyers Step In?
According to Crypto King, a well-known cryptocurrency analyst, ETH has reached a key point on the daily chart that may mark its next significant move. The analyst noted that ETH’s price action is currently hovering around a key level, making this a critical moment for tracking the broader market structure.
In postCrypto King pointed out that the main upward trend line has been tested once again. The result of this test, the expert explained, will set the tone for Ethereum’s future direction, confirming a bullish continuation or signaling the beginning of a deeper correction.
If the bulls manage to reclaim the trendline and push the price above $4,950, Crypto King believes it could open the door to a mighty move towards $5,600. Such a breakout would confirm the continuing upward trend and could reignite market interest.
However, the analyst warned that a failure to hold this key level could trigger selling pressure, causing a decline towards the $2,000 zone and invalidating the broader uptrend that has supported ETH in recent months.
Crypto King concluded by reminding traders to remain tranquil and let the chart do the talking, emphasizing patience over panic. In such volatile conditions, the market often rewards those who wait for clear confirmations rather than reacting impulsively to every move.
The price faces critical resistance at $3,700
In the newer one update from Ted Pillows, a cryptocurrency analyst, highlighted that ETH is currently approaching the key resistance level at $3,700, which is crucial for its next near-term direction. The market has shown renewed strength in recent sessions, but all eyes are now on ETH’s reaction in this critical zone.
According to Ted, if Ethereum closes the daily candle above $3,700, it could trigger a up-to-date wave of bullish momentum, potentially pushing the price towards $4,000. Such a break would likely signal that buyers are regaining control and could pave the way for further gains in the coming days.
However, Ted also warned that if ETH fails to break through the resistance, a rejection could bring its price down to the $3,400 support zone. This would mean that the bears are still defending the upper levels, keeping the price trapped in the current range.
