Analysts See Ethereum Price Bullish Reversal If ETH Holds This Support

Ethereum price is making a critical recovery after a volatile week as bulls hold the $3,890-$4,000 range. Market sentiment is cautious, yet some analysts have indicated that the asset could dip for the short term. At the time of writing, Ethereum had a nearly 2% increase in 24 hours, trading around $4,080, with an increase in trading volume and open interest.

Traders projected that a move above $4250 will indicate momentum towards higher resistance levels near $4500.

$4,100 Support Crucial for Ethereum Price Stability

Analyst Ted Pillows underscored the importance of the $4,100 support zone, saying it is Ethereum’s “make-or-break” level. He noted that the structure resembles previous recovery patterns that occurred before powerful rallies.

Ted commented that the loss of this zone could dip to a low support between $3,815-$3,550. He indicated that Ethereum price is hitting a critical level here and that rejection of this level will be a continuation of the downtrend. The chart, Ted posted had layered resistance at $4,100 and $4,286 with a bullish projection if the levels then reversed to support.

However, the TD Sequential indicator flashed a sell signal on Ethereum’s 4-hour chart, prompting analyst Ali to issue a short-term cautionary note. He observed a possible retracement to $3900, a level that tends to be a cooling-off zone before the next up impulse. Ali explained that similar TD patterns are historically followed by local corrections before the trend continues higher.

$608M ETH Moved – Potential Whale Repositioning

Meanwhile, the on-chain analytics platform, Lookonchain revealed large ETH transactions to wallets thought to be controlled by one of the biggest early investors of the project. Over 153,000 ETH, worth approximately $608 million, were moved to new addresses within a few hours.

These large moves are often viewed as repositioning moves instead of liquidation movements, especially during the consolidation periods. Playing in the past data revealed that when institutional or whale activity was high, there were similar events before price recovery.

Lookonchain also confirmed that this investor had earlier amassed ETH at a value level between $3,700 and $3,900 earlier in 2024, which implies that the investor holds a long-term perspective. If these tokens continue to sit on exchanges unmoved, it could further strengthen bullish belief on the part of large holders, which is consistent with the current stabilization phase at around $4,000.

$4,250 is the Real Test of Strength

Analyst Crypto Tony is still long on Ethereum from $3,960, with $4,250 being the resistance level. He indicated that Ethereum structure has been istabove $4,000, although confirmation is needed at a daily close above the $4,250 level.

Tony’s chart indicated a definite horizontal resistance range of between $4,240 and $4,300. A breakout from this band will attract short-term momentum traders, possibly driving Ethereum all the way down to the $4,500 region. He commented that if this level is not cleared, the retest of $3,900 could occur ahead of further up move continuation.

The pattern indicates a possible upward structure in the making at lower timeframes, which is in line with Bitcoin‘s continued stability above the $106,000 level. Ethereum’s correlated movement as BTC stabilizes may fuel the positive sentiment of the top altcoins.

$3,890 Flip Could Trigger $5,000 Target

CryptoWZRD took a similarly bullish tone, underlining that Ethereum is “entering the same bullish wave as Bitcoin.” He said the weekly candle closed indecisively but above the $3,890 threshold, which represents an important pivot zone.

From a technical point of view, if the support at the $4 000 level is hit, a move toward the $4,140 and then the $5,000 resistance levels appears to be imminent. The intraday chart displayed a bullish formation with momentum accumulating towards the resistance level of $4,100. Over this level, a wave of FOMO buying is expected, which could start a strong move toward new cycle highs.

CryptoWZRD’s analysis also highlighted the confirmation of the relative strength view on the ETH/BTC pair. BTC dominance stabilization, combined with distinguished support for Ethereum, supports the rotation thesis into Q4.