Ethereum Support Zone Holds, Is a Move to $4.7K Next?

 Key Insights:

• Ethereum forms base above $3,800, keeping upside potential to $4,754 on the table.
• Weekly chart slips back inside wedge, turning focus to reclaiming $4,100 resistance level.
• RSI and volume trends show slowing momentum, making support zone retests a critical short-term signal.

Ethereum was trading at $3,890.37, with price action holding above a key demand zone between $3,600 and $3,800. This area has supported several rebounds in recent months. Current price activity shows a mild recovery after a brief pullback, keeping ETH above short-term support.

The latest bounce follows a V-shaped move from the lower edge of this demand range. With levels at $3,649, $3,822, and $3,904 acting as nearby support, traders are watching whether ETH can hold this zone and build momentum. A move higher could bring the $4,754 area back into focus.

Upside Target in Sight if Support Holds

A chart shared by cryptocandy outlines a potential path toward $4,754.41 if ETH maintains current levels. That price marks the September peak and may act as the next resistance. If broken, it could open room for higher moves toward previous all-time highs.

The short-term outlook depends on the strength of this demand zone. If price slips below $3,600, the lower support areas at $3,485 and $3,355 become more relevant. For now, buyers are active, and ETH is holding above $3,800.

Weekly Chart Breaks Wedge Support

A longer-term chart posted by kpak shows ETH falling back inside a rising wedge that had held since early 2025. The $4,050–$4,100 zone, previously acting as support, has been lost. This shift moves ETH back into a zone of older consolidation.

The rejection near the top of the wedge pattern suggests price may struggle to push higher unless a strong bounce happens soon.

 As the tweet points out: 

“If you were bullish above those supports… you should be bearish if we close below.”

 This comment reflects the shift in market structure.

Momentum Slows, Caution Ahead

The RSI on the weekly chart is dropping from recent highs, showing slowing momentum. Volume support below the current level also thins out, with lighter activity until around $3,200–$3,400. This gap could lead to faster moves if selling pressure increases.

Traders are now focused on whether ETH can reclaim the $4,000–$4,100 zone. Holding above $3,800 keeps the upside potential open. A close below that level, however, may shift short-term direction.