Ethereum’s Next Move May Depend on Resistance at $3,900 as Buyers Test Market Dynamics

Key Points

1. Ethereum is trading near $3,650, facing strong resistance at $3,900, with sell-side liquidity between $3,900 and $4,000 acting as a major hurdle.

2. A drop below the support level of $3,147 could lead to further declines toward $2,900.

3. A breakout above $4,000 could signal a bullish reversal, with potential long-term targets as high as $8,000.

4. The price structure shows bearish pressure, with multiple failed attempts to break through the $3,750-$3,800 zone.

5. A double bottom pattern near $3,400-$3,500 suggests a potential bullish reversal if buying momentum increases.