Ether bounces off key technical support – where to next?
Ether is seen bouncing off key technical support at $4,105.53-to-$3,941.08 but analysts are split with regard to year-end targets.
Ether news
Ethereum has been under increased scrutiny amid institutional interest and strong on-chain metrics.
Standard Chartered recently raised its year-end target for Ether to $7,500.00, citing greater corporate holdings and upticks in stablecoin usage on the Ethereum network.
Alongside that, Citi maintains a more conservative forecast around $4,300.00, noting that current prices may already be reflecting sentiment more than fundamental activity.
Nevertheless, there are signs of potential vulnerability with Monday's 5% drop, attributed to a combination of profit taking following recent gains, mixed sentiment in exchange-traded fund (ETF) flows, and pressure from derivatives (future/option) markets where open interest has been volatile.
Ether bullish case:
Ether is seen bouncing off its key $4,105.53-to-$3,941.08 support area which consists of the March, May and December 2024 as well as the July 2025 highs.
The late August-to-September lows at $4,214.82-to-$4,315.82 may act as resistance.
Monday's high at $4,458.29 needs to be overcome, for the medium-term bull run to resume.
Ether bearish case:
Were Ether to fall through its major $4,105.53-to-$3,941.08 support zone, the 21 July high at $3,858.25 may be retested.
Only a major bearish reversal and fall through the next lower early August low at $3,356.65 would increase the odds of a medium-term top forming, though.
In this scenario the area between the February-to-June highs at $2,879.45-to-$2,733.27 may be hit.
Ether daily candlestick chart
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