Strong Reaction From Ethereum

On the 4-hour chart, Ethereum (ETH) bounced from the 2,493 – 2,459 USD support zone with a notable upward move. This level has acted as a significant support for some time, and the bounce from here is technically important. Still, Ethereum has not clearly determined its next direction. Price action remains trapped between support and resistance.

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Breakout Direction Will Be Crucial

A similar pattern is seen in Bitcoin as well. The overall market is in a consolidation phase, which often precedes major moves. From a technical standpoint, strong momentum could build in either direction. Traders should closely monitor volume increases and breakout levels in the coming hours.

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These consolidation patterns often precede sharp breakouts, especially when price action nears critical support or resistance levels. Right now, Ethereum appears to be on the brink of such a breakout.

Key Resistance Under Pressure

The upper boundary of the triangle—marked around $2,550—is being tested. If we see a solid 4-hour candle close above this level with supporting volume, a move toward the $2,650 mark could follow swiftly. This would signal renewed momentum for the bulls.

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However, volume confirmation is essential. Without it, there’s a risk of a false breakout, potentially trapping over-leveraged traders.

Downside Risk Still Lingers

Conversely, if Ethereum breaks down from the lower end of the triangle, the price could swiftly retreat to the $2,350 level. Short-term traders should closely monitor their stop-loss placements to manage risk accordingly.

While the direction isn’t confirmed yet, the breakout is likely near. Traders would be wise to watch support and resistance levels closely.

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The post The Giant Is Winding Up: A Breakout Looms for Ethereum appeared first on Coin Engineer.

Technical indicators suggest a critical phase is underway for investors. The reaction from the previously marked support zone is giving rise to renewed optimism.

Strong Rebound From Support Zone

As noted in previous analyses, the 2,394$ – 2,265$ support band proved effective. Ethereum bounced back from this level and climbed up to the bearish FVG resistance area. This movement hints at a resurgence of short-term confidence in the market.

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Is The 3,000$ Level Back In Sight?

The key level for continuation lies in the current resistance area. If this region is broken with solid momentum and sustained price action, Ethereum could revisit the 3,000$ target. However, as of now, there’s no clear hold above this resistance, which warrants caution among traders.

In such moments, patience and strategic positioning become crucial. Whether this resistance breaks or holds will likely determine the price direction in the coming days.

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Traders are now focusing on the next critical support level to assess Ethereum’s next move.

Watch $1,745: Breakdown Could Lead to $1,655 – $1,631 Zone

If $1,745 fails to hold, the next key support zone lies between $1,655 – $1,631. This area could offer a potential rebound opportunity for buyers and act as a new base.

Conversely, if a strong bounce occurs from this zone, Ethereum may begin a fresh rally targeting $1,821 again. In the short term, the $1,745 level remains crucial for direction clarity.

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This zone is crucial for short-term traders. If the price fails to hold above this level, a deeper correction could be on the horizon. Technical indicators suggest growing selling pressure.

$1,745 Support Level In Focus

Should Ethereum lose the $1,821 level, the next major support to watch is $1,745. This level previously acted as a strong demand zone, and buyers could step in again. However, unless the broader market shows signs of recovery, the bearish trend may persist.

Traders are advised to be cautious with short-term positions, as $1,821 remains the most critical level for now.

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Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 0.55% in the last 24 hours, currently trading at $95,947. Bitcoin (BTC) has broken the resistance level mentioned in our November 27th analysis and is continuing its upward movement. If it keeps rising, it could face resistance in the FVG region, ranging from $96,500 to $98,000. A 4-hour closing above this level will push the price toward the ATH resistance zone. Key support levels are at $94,700 and $91,213.

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Ethereum (ETH): The ETH/USDT pair has lost 1.86% in the past 24 hours and is currently trading at $3,567. Resistance levels for ETH are at $3,649 and $3,886. Support levels are at $3,527 and $3,440.

Algorand (ALGO): The ALGO/USDT pair has surged by 20.37% in the last 24 hours, currently at $0.34. Resistance levels are at $0.36 and $0.39. Support levels are at $0.328, with deeper corrections possible at $0.31.

Artificial Superintelligence Alliance (FET): The FET/USDT pair has gained 10.71% in the last 24 hours, trading at $1.63. Resistance levels are at $1.71 and $1.74. Support levels are at $1.56, with further downside potential at $1.53.

Render (RENDER): The RENDER/USDT pair has increased by 7.47% in the past 24 hours, currently priced at $8.74. Resistance levels are at $8.96 and $9.33. Support levels are at $8.28, with a deeper drop possible at $7.46.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market include Hyperliquid (HYPE), Virtuals Protocol (VIRTUAL), and Grass (GRASS). The biggest gainers include ai16z (AI16Z), Virtuals Protocol (VIRTUAL), and Act I The AI Prophecy (ACT). The biggest losers are Just a chill guy (CHILLGUY), Fwog (FWOG), and Echelon Prime (PRIME).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the key liquidation level on the higher side is $97,844, with $31 million in liquidations. On the lower side, $94,827 is the main liquidation level, with $37 million in liquidations.

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