Ethereum’s price dropped under $4,000 for a brief period on Thursday before heavily recovering. However, the danger is not over yet, as ETH needs to break above critical key resistance.
Key Support levels: $4,000 – $3,850
Key Resistance levels: $4,350 – $4868 (ATH) – $5,075
ETH’s price is currently hovering around the key resistance of $4,350, the level that ETH was unable to close above over the past five days.
If failing to do so, ETH is likely to see another drop to retest the key support at $4,000 (September high), which was well defended by the bulls on Thursday. The overall market and ETH face a decisive moment that will define the price action for the remainder of the month.
