Ethereum (ETH) Price Prediction: Can Bulls Defend $4,400 After Sharp Rejection?

The price of Ethereum is stabilizing around $4,430 after a wild drop from the $4,950 ￰0￱ drop came after ETH was strongly rejected at a major supply block between $4,900 and $5,000, which stopped the recent ￰1￱ though it has pulled back, ETH is still trading above its rising trendline support, giving buyers a chance to regroup and make another push higher. What’s Happening With Ethereum’s Price? Ethereum has been on a long-term upward trend for most of August, rising from below $3,800 to almost $5,000. ETH is still in an upward trend on the 4-hour chart, with higher lows still in ￰2￱ $4,400 level is now a key turning point where the trendline and local support ￰3￱ parabolic SAR dots are still above the price, which shows that there is short-term bearish pressure, but the larger structure is still ￰4￱ Is The Ethereum Price Going Down Today?

The current pullback in Ethereum price is driven primarily by overhead supply near $5,000 and fading intraday ￰5￱ 30-minute chart shows ETH capped under a descending trendline, with RSI at 46, reflecting cooling ￰6￱ MACD line is still in negative territory, tho…