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According to CoinDesk Research’s technical analysis data model, ether advanced on heavier-than-usual trading, then slipped late after an upper-band rejection, leaving a tighter range and a clear set of checkpoints above and below.
Analyst comment
- Crypto analyst Michaël van de Poppe said on X that Ethereum is the best ecosystem to invest in and that ether is near a push to a new all-time high above $5,000.
- In plain English: he’s arguing that developer activity, products and network effects make the ethereum ecosystem attractive, and that price action is getting close to the kind of strength seen before record highs.
- How that fits the chart today: the model shows buyers active on the way up, but sellers still guarding the $3,860–$3,880 band. For a run at record territory, the first task would be a clean reclaim of $3,880 and follow-through above the $3,887.35 session high—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 seven-day average; deviation from CD5 –0.06%.
- Intraday path: From $3,771.27 to $3,822.78 inside a $193.66 range, printing higher lows through the session.
- Momentum peak: 2 p.m. UTC, 446.7K volume on the push through $3,860, tapping a $3,887.35 high.
- Late rejection: Final hour –1.30% from $3,869 → $3,820 on 21.8K volume (about 6× that phase’s session average), creating a lower high near $3,865.
Support and resistance map
- Support: $3,680–$3,720 zone that caught early-session weakness.
- Resistance: $3,860–$3,880 band, with $3,880 as a psychological level.
- Near-term band: Trade clustered $3,730–$3,880 after the test of the upper band.
- Session reference: A reclaim of $3,880 reopens the $3,887.35 high.
Volume picture
- Overall: +19.01% vs the seven-day average signals meaningful participation.
- On the advance: 446.7K at 2 p.m. UTC marked the strongest bullish print.
- Into the close: 21.8K on the drop from $3,869 → $3,820 shows supply crowding the ceiling late.
What the patterns suggest
- Uptrend with a caution flag: Higher lows built an advance, but the lower high into the close warns sellers are still active near the top of the range.
- Range behavior: With demand showing up on dips and supply at $3,860–$3,880, $3,730–$3,880 frames the near-term map.
- Next proof point: Bulls would want a firm break and hold above $3,880; bears will look for a loss of $3,720 to expose $3,680.
Targets and risk framing
- If buyers press: Reclaim $3,880 → check $3,887.35; sustained strength keeps focus on the upper band.
- If sellers regain control: Below $3,720 → $3,680 becomes the next demand area.
- Tactical lens: With participation elevated but resistance respected, many traders wait for a clear break out of $3,730–$3,880 before leaning harder.
CoinDesk 5 Index (CD5) context
- Range and turn: CD5 rose from $1,878.33 → $1,901.52, reaching $1,924.98 before reversing to $1,901.52, consistent with profit-taking into resistance across majors.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
