ETH technical analysis

Ether (ETH) fell from $3,977 on May 27, signaling that bears are fiercely defending the $4,000 to $4,100 resistance zone.

The first support on the downside is the breakout level of $3,730. If the bulls turn this level to support, the ETH/USDT pair will make another attempt to rise above the $4,100 resistance. If this level is cleared, the pair can rise to $4,868.

Conversely, if the price continues to decline and breaks below $3,730, it will signal that the bears are attempting a comeback. The pair could then drop to the 20-day EMA ($3,537) and lower it to $3,050.

(Daily ETH/USDT chart | Source: TradingView)$ETH