According to CoinDesk Research’s technical analysis data model, ether advanced on heavier than usual trade and then slipped late after an upper band rejection, leaving a narrower range and a clear set of checkpoints above and below.
Analyst Commentary
- Crypto analyst Michaël van de Poppe said on X that Ethereum is the best ecosystem to invest in and that ether is close to a push to a new all-time high above $5,000.
- In plain English: he argues that developer activity, products, and network effects make the ethereum ecosystem attractive, and that price action is approaching the kind of strength seen before record highs.
- How it fits the chart today: The pattern shows buyers active on the way up, but sellers still guarding the $3,860-$3,880 band. To run into record territory, the first order of business would be a clean retracement of $3,880 and follow-through above the session high of $3,887.35 – steps that would show control shifting back to buyers near the top of the current range.
Technical analysis highlights
- Performance and Participation: ETH +1.50% to $3,822.60 with volume +19.01% vs. the average of seven days; deviation from CD5 –0.06%.
- Intraday path: From $3,771.27 to $3,822.78 within a $193.66 range, printing higher lows through the session.
- Momentum peak: 14:00 UTC, 446.7K volume on push through $3,860, which is a high of $3,887.35.
- Late Rejection: Last hour –1.30% from $3,869 → $3,820 on 21.8K volume (approx. 6× that phase’s session average), creating a lower high near $3,865.
Support and resistance chart
- Support: $3,680–$3,720 zone that caught weakness in the early session.
- Resistance: $3,860–$3,880 band, with $3,880 as a psychological level.
- Short-term band: The trade gathered $3,730-$3,880 after the test of the upper band.
- Session reference: A retracement of $3,880 reopens the $3,887.35 high.
Volume image
- Overall: +19.01% over seven-day average signals meaningful participation.
- On the advance: 446.7K at 14:00 UTC marked the strongest bullish print.
- Into the close: 21.8K on the decline from $3,869 → $3,820 shows that supply is capped late.
What the patterns suggest
- Uptrend with a warning flag: Higher lows created an advance, but the lower high to close warns that sellers are still active near the top of the range.
- Range: With demand emerging on the downside and supply at $3,860-$3,880, $3,730-$3,880 frames the map in the near term.
- Next proof point: Bulls will have a firm break and hold above $3,880; bears will look for a loss of $3,720 to reveal $3,680.
Objectives and risk framing
- If buyers press: Reclaim $3,880 → check $3,887.35; sustained strength keeps the focus on the upper band.
- If sellers regain control: Below $3,720 → $3,680 will be the next demand area.
- Tactical lens: With increased participation but resistance respected, many traders are waiting for a clear breakout of $3,730-$3,880 before leaning harder.
CoinDesk 5 Index (CD5) context
- Range and Turn: CD5 rallied from $1,878.33 → $1,901.52 and reached $1,924.98 before reversing to $1,901.52, consistent with profit-taking at resistance across majors.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
