Ether dropped 4% after briefly touching $3,940 on Monday, in line with a broader crypto market pullback rather than ETH-specific weakness. Despite the dip, ETH derivatives remained firm, with futures premiums rising to a five-month high of 8%—a sign of lingering bullish sentiment. Meanwhile, macro uncertainty around U.S.–China tariff talks and recession fears have led many investors to shift capital into cash or short-term bonds, tempering risk appetite in the short term.

At the time of writing, ETH was trading at $3,790.

ETH was facing strong resistance in the $2,750 to $2,850 range. After multiple rejections at these levels, the bulls eventually succeeded in breaking out, leading to a sharp rally up to $3,941. On the weekly time frame, ETH now faces strong resistance at a downsloping trendline as well as at a horizontal resistance around $4,150. A breakout above these levels could pave the way for a retest of the all-time highs.

Key Levels:

Support 2Support 1Asset Resistance 1Resistance 2$3,350$3,500ETH$4,000$4,150

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Filed under: Bitcoin - @ July 29, 2025 10:21 am