Ethereum May Test $4,300 as It Consolidates Near $4,360
This Ethereum price prediction for September 1 shows a 1.34% drop, with ETH trading near $4,394. Technical analysis on the hourly chart indicates that if Ethereum closes at or below the $4,360 support level, a retest of the $4,300 zone is likely by tomorrow. Declining volume highlights a lack of bullish or bearish momentum, suggesting sideways trading around current prices. Mid-term, bulls need a breakout above the key $5,000 resistance to resume an upward trend. Traders should watch volume and support levels at $4,360 and $4,300, and resistance at $5,000, for actionable signals.
Bearish
Ethereum’s failure to hold the $4,360 support and a 1.34% drop on low volume point to weakening short-term momentum. The likely retest of $4,300 mirrors past episodes where support breaks led to further downside before stabilizing. With neither bulls nor bears showing strength and volume contracting, sideways to downward movement is expected. Only a decisive breakout above $5,000 would shift this view. Traders should position for possible short-term weakness while monitoring key levels for signs of renewed bullish commitment.