Ethereum Price: Is the Summer Rally Already Over?
Ethereum’s price has slipped to around $4,190, marking a notable correction after its strong summer rally.
The decline comes as momentum indicators suggest fading strength, raising questions about whether bulls can defend crucial levels.
On the daily chart, ETH recently dropped below the 50 mark on the Relative Strength Index (RSI), now hovering near 40. This shift signals weakening buying pressure, with the market struggling to maintain its recent highs above $4,400. Analysts warn that if the downward trend continues, Ethereum could test deeper support zones in the coming weeks.
The weekly chart highlights $4,100 as a critical area to hold. A decisive break below this level could open the door toward the $3,940–$3,600 region, where liquidity clusters suggest stronger buying interest. Below that, historical support zones near $2,800 and $2,600 remain potential targets if selling accelerates.
Market analyst Michael van de Poppe described the latest move as a “classic liquidity sweep,” noting that overleveraged positions have been flushed from the market.
According to him, these sharp corrections often create opportunities for long-term investors to accumulate positions, provided key support levels remain intact.
Despite the pullback, Ethereum’s broader trend still shows resilience compared to earlier in the year, when the asset traded under $2,000. The market is closely watching whether this correction proves to be a healthy retest of support before another leg higher, or the beginning of a larger downward phase.
For now, traders are eyeing $4,100 as the line in the sand that could define Ethereum’s next move. A bounce here could reinforce bullish sentiment, while a failure risks shifting momentum back toward sellers.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
