Ethereum Price Falls Below $4,700 Despite 0.57% Intraday Gain
Ethereum price has come under mixed pressure this week. On October 2, ETH dipped below $4,300 on OKX following a 0.68% decline, with traders eyeing support near $4,250 and resistance around $4,350. By October 7, Ethereum price consolidated near the $4,750 resistance before slipping under $4,700 to $4,699.43, despite a 0.57% intraday gain. Key short-term stability levels now lie at $4,650 and $4,600. Ongoing intraday volatility on OKX and other exchanges underscores the importance of monitoring on-chain metrics and BTC correlation for informed trading strategies.
Bearish
Ethereum price’s failure to hold above the $4,750 resistance and its slip under $4,700 signal prevailing selling pressure. The earlier break below $4,300 on October 2 and the inability to sustain gains on October 7 highlight downside risk. Traders are eyeing support zones at $4,650 and $4,600, which if broken could trigger further declines. Combined with heightened intraday volatility and macro uncertainty, the short-term outlook for ETH appears bearish.