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ETH Faces Repeated Rejections at $4,600 — What's Next?
A technical breakdown of $ETH 's struggle to break through key resistance and what traders should watch for.
Ethereum has hit a wall. After four consecutive rejections at the same descending trendline near $4,600, the second-largest cryptocurrency by market cap is at a crossroads. Traders are watching closely to see whether bulls can finally push through this stubborn resistance or if another rejection will send ETH tumbling back down. The next few days could determine whether Ethereum breaks into a fresh rally or remains trapped in its current downtrend.
✨ETH at a Critical Resistance
Market analyst Ali recently pointed out that Ethereum keeps testing a descending trendline but just can't seem to break through. Every time ETH approaches $4,600, sellers show up in force, creating a brick wall of resistance. The chart tells the story clearly: Ethereum is stuck inside a downward-sloping channel, and each attempt to escape the upper boundary has been quickly smacked down.
Looking at the 12-hour chart, the technical setup is pretty straightforward. The $4,600 level has become the major ceiling, tested four times now with no breakthrough. Below that, there's mid-channel support hanging around $4,300, with stronger support sitting at $3,800 if things get ugly. The price action has been respecting the descending channel boundaries like clockwork—sellers jump in at the top, buyers step up at the bottom. The latest rally from below $3,900 toward $4,600 showed some real bullish muscle, but that rejection at the top proves the bears aren't done fighting yet.
✨Possible Scenarios
Bullish Breakout: If Ethereum manages to punch through $4,600 with a strong close and solid volume backing it up, we could see a quick run toward $5,000 and maybe even the start of a fresh bullish trend. That breakout would need to be convincing though—no fake-outs.
Bearish Continuation: On the flip side, if ETH fails again at resistance, it's probably heading back down toward $4,300, maybe even $3,800, staying locked in this frustrating downtrend channel. Another rejection would be a real blow to bullish momentum.
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Ethereum has hit a wall. After four consecutive rejections at the same descending trendline near $4,600, the second-largest cryptocurrency by market cap is at a crossroads. Traders are watching closely to see whether bulls can finally push through this stubborn resistance or if another rejection will send ETH tumbling back down. The next few days could determine whether Ethereum breaks into a fresh rally or remains trapped in its current downtrend.
✨ETH at a Critical Resistance
Market analyst Ali recently pointed out that Ethereum keeps testing a descending trendline but just can't seem to break through. Every time ETH approaches $4,600, sellers show up in force, creating a brick wall of resistance. The chart tells the story clearly: Ethereum is stuck inside a downward-sloping channel, and each attempt to escape the upper boundary has been quickly smacked down.
Looking at the 12-hour chart, the technical setup is pretty straightforward. The $4,600 level has become the major ceiling, tested four times now with no breakthrough. Below that, there's mid-channel support hanging around $4,300, with stronger support sitting at $3,800 if things get ugly. The price action has been respecting the descending channel boundaries like clockwork—sellers jump in at the top, buyers step up at the bottom. The latest rally from below $3,900 toward $4,600 showed some real bullish muscle, but that rejection at the top proves the bears aren't done fighting yet.
✨Possible Scenarios
Bullish Breakout: If Ethereum manages to punch through $4,600 with a strong close and solid volume backing it up, we could see a quick run toward $5,000 and maybe even the start of a fresh bullish trend. That breakout would need to be convincing though—no fake-outs.
Bearish Continuation: On the flip side, if ETH fails again at resistance, it's probably heading back down toward $4,300, maybe even $3,800, staying locked in this frustrating downtrend channel. Another rejection would be a real blow to bullish momentum.
🚀🚀🚀 FOLLOW BE_MASTER BUY_SMART 💰💰💰
Appreciate the work. 😍 Thank You. 👍 FOLLOW BeMaster BuySmart 🚀 TO FIND OUT MORE $$$$$ 🤩 BE MASTER BUY SMART 💰🤩
🚀🚀🚀 PLEASE CLICK FOLLOW BE MASTER BUY SMART - Thank You.
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