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Ethereum (ETH) Price Prediction: Can Bulls Defend $4,400 After Sharp Rejection?
The price of Ethereum is stabilizing around $4,430 after a wild drop from the $4,950 range. The drop came after ETH was strongly rejected at a major supply block between $4,900 and $5,000, which stopped the recent rise. Even though it has pulled back, ETH is still trading above its rising trendline support, giving buyers a chance to regroup and make another push higher.
What’s Happening With Ethereum’s Price?
Ethereum has been on a long-term upward trend for most of August, rising from below $3,800 to almost $5,000. ETH is still in an upward trend on the 4-hour chart, with higher lows still in place. The $4,400 level is now a key turning point where the trendline and local support meet. The parabolic SAR dots are still above the price, which shows that there is short-term bearish pressure, but the larger structure is still intact.
Why Is The Ethereum Price Going Down Today?
The current pullback in Ethereum price is driven primarily by overhead supply near $5,000 and fading intraday momentum. The 30-minute chart shows ETH capped under a descending trendline, with RSI at 46, reflecting cooling demand. The MACD line is still in negative territory, tho…
The post Ethereum (ETH) Price Prediction: Can Bulls Defend $4,400 After Sharp Rejection? appeared first on Coin Edition.
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