Ethereum’s price recovery appears to be losing strength as buyers struggle to maintain control above key resistance zones. Despite bouncing from the $3,700 level earlier this week, ETH remains capped below $3,920, with technical signals suggesting a potential continuation of sideways-to-bearish movement in the near term.Key TakeawaysEthereum (ETH) is trading around $3,892, up slightly but still below major resistance.The $3,850–$3,920 range remains a critical battleground between bulls and bears.Failure to break above $3,920 could trigger a retest of $3,740 or even $3,650 support.Momentum indicators point to weakening bullish pressure amid cautious market sentiment.Ethereum Price Fights to Hold MomentumAfter sliding to $3,724, Ethereum attempted a moderate rebound, mirroring Bitcoin’s recovery earlier this week. ETH briefly reclaimed $3,800, clearing the 23.6% Fibonacci retracement level of the drop from $4,110 to $3,708, but upside momentum quickly stalled near the $3,850–$3,920 resistance area.Ethereum is currently trading below the 100-hour Simple Moving Average (SMA), with a short-term bearish trend line forming near $3,850 on the hourly chart — a structure that continues to limit upward movement.Resistance and Support Levels to WatchEthereum faces immediate resistance near $3,920, aligning with the 50% Fibonacci retracement of the latest decline. A confirmed breakout above $3,950 could spark renewed bullish momentum toward $4,020, and possibly $4,120–$4,150 if volume expands.However, if ETH fails to clear $3,850, it risks losing short-term support at $3,800. A drop below this level would expose $3,740, followed by deeper support around $3,650–$3,620 — levels that coincide with previous consolidation zones.Technical OutlookMACD (Hourly): Weakening momentum in the bearish zone, suggesting limited buyer strength.RSI (Hourly): Hovering near 46, indicating a neutral-to-bearish setup.Trend Bias: Neutral-to-bearish unless ETH closes decisively above $3,950.Market Sentiment Remains CautiousEthereum’s muted price action mirrors the broader crypto market’s consolidation phase, as traders await clarity from upcoming macroeconomic catalysts — including the Federal Reserve meeting later this month.Liquidity has thinned across major trading pairs, and institutional order books show subdued buying activity, reinforcing the idea that ETH may remain range-bound until a decisive breakout occurs.For now, Ethereum’s $3,850–$3,920 resistance corridor remains the key zone to watch. A move above this range could revive bullish conviction, while failure to hold $3,740 support may invite further downside pressure toward $3,650.
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