Ethereum Price Peaks at $4,765, Struggles to Hold $4,650
Ethereum price surged above key resistances to a peak of $4,765 but then Ethereum price failed to sustain momentum, falling back below supports at $4,650 and $4,620 and the 100-hour SMA. A bearish trend line near $4,610 adds downward pressure. To resume its uptrend, ETH must clear $4,620 and $4,650 to challenge $4,720, $4,765 and $4,800. On the downside, initial support lies at $4,550 and $4,520 (50% Fibonacci retracement), with major support at $4,460 (61.8% Fib). A close below $4,460 could push prices toward $4,385, $4,350 and $4,270. Technical indicators show the hourly MACD losing bullish strength and the RSI below 50, indicating further downside risk. Traders should watch these resistance and support levels for clues on whether Ethereum price will reignite its rally or extend its losses.
Bearish
Ethereum price failed to hold gains after peaking at $4,765 and has dropped below key support levels at $4,650 and $4,620. The breach of the 100-hour SMA and a bearish trend line near $4,610 signal weakening buying pressure. Technical indicators, including a declining MACD and RSI below 50, point to further downside risk in the short term. Unless Ethereum price can reclaim $4,620–$4,650, traders should prepare for potential moves toward $4,460 and lower Fibonacci retracement levels.