Ethereum Stuck Below $4,060: A Fakeout Or Fresh Leg Down To $3,600?

Ethereum finds itself at a crossroads after tapping the $3,800 liquidity level and bouncing back, only to stall below the key $4,060 ￰0￱ momentum hanging in the balance, traders are questioning whether this pause is simply a fakeout before a recovery or the start of a deeper move toward the $3,600 support ￰1￱ Below $4,060: Key Support Yet To Be Reclaimed Ted, a well-followed crypto analyst, recently shared his insights on Ethereum’s latest price action in a post on ￰2￱ to the expert, ETH successfully tapped into the $3,800 liquidity level, a move he had ￰3￱ level acted as a key zone where buyers stepped in, providing the much-needed bounce for Ethereum after a short-term ￰4￱ Reading: Wedge Breakout Or False Alarm?

Ethereum Faces Its Biggest Support Test Yet Following this bounce, Ethereum managed to recover some ground. However, Ted pointed out that the asset is still struggling to reclaim the $4,060 support ￰5￱ level has now become a crucial barrier for ETH, and its inability to hold above it leaves the market in a vulnerable ￰6￱ analyst explained that if Ethereum successfully flips the $4,060 level back into support, the market could see a fresh rally ￰7￱ a move attracts renewed bullish momentum, fueling optimism for a stronger push higher in the near ￰8￱ the other hand, Ted cautioned that failing to reclaim this zone increases the risk of further ￰9￱ such a case, Ethereum could see its price tumble back toward the $3,600 level, which stands as the next critical support ￰10￱ Or Freefall?

Ethereum Bulls Cling To Their Last Hope According to Andrew Crypto, in a recent update posted on X, the technical outlook across the crypto market isn’t painting a bullish ￰11￱ highlighted that both BTC and ETH have broken down through key support levels, which increases the likelihood of further declines in the short ￰12￱ breakdowns often suggest that buyers are losing strength, leaving room for sellers to dictate market ￰13￱ Reading: Ethereum Price Recovery Strong – Major Resistance Test Coming Next While acknowledging that the current setup may not be pleasant for traders, Andrew pointed out that this weakness could present a significant opportunity for long-term investors, offering attractive entry points before the next major market cycle takes shape.

However, he also left room for cautious ￰14￱ only possible bullish scenario at this stage, Andrew explained, is if the current move proves to be a ￰15￱ that case, a strong rebound could follow, flipping market sentiment back in favor of the ￰16￱ image from iStock, chart from ￰17￱