Ethereum (ETH) has recently attracted attention with its price movements. After rebounding from a low of $4,050, it briefly reached over $4,220, but encountered strong resistance in the $4,350-$4,380 range, leading to significant selling pressure in the short term.
Currently, the ETH price is still hovering below $4,355 and the 100-hour moving average. To achieve a breakout, it is essential to first overcome this key resistance. If a successful breakout occurs above $4,380, the next target could be in the range of $4,460-$4,500. If it can hold above this level, it may further challenge the high above $4,550.
However, investors should also be wary of downside risks. If ETH breaks below the support level of $4,220-$4,200, it may quickly retrace to the range of $4,120-$4,050, and could even test the $4,000 round number.
From a technical analysis perspective, key support levels include $4,220, $4,200, and $4,050. Major resistance levels are at $4,380, $4,460, and $4,500. The key to the short-term trend lies in whether it can hold above $4,220; if it can break through $4,380, it may trigger an accelerated rise in the market.
In addition to focusing on ETH, investors should also closely monitor the performance of mainstream cryptocurrencies such as Bitcoin (BTC), Binance Coin (BNB), and Solana (SOL). Furthermore, some emerging projects like SAPIEN, ASR, KOMA, and SIREN are also worth paying attention to.
It is worth mentioning that the cryptocurrency market has recently shown a positive trend, with BNB reaching new highs and the popularity of MEME tokens rising. Meanwhile, in the traditional financial market, cryptocurrency-related stocks have generally increased. At the same time, the upcoming Jackson Hole meeting may impact the market, and investors should remain vigilant and closely monitor market movements.
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