TL; DR
- ETH rose 8.5% in the last 24 hours and is now trading above $4,100.
- The coin could extend its recovery if the daily candle closes above $4,232.
ETH clears $4,100 after Friday’s flash crash
Ether, the second-largest cryptocurrency by market capitalization, is staging a strong rebound following Friday’s sharp crash. During that event, ETH briefly dipped into the $3,500 area, losing more than 30% of its value within an hour.
Since then, the token has gained about 8.5% in the past 24 hours and is trading around $4,165 per coin. The flash crash was triggered after an announcement by President Trump about new tariffs on Chinese imports.
Commenting on recent market activity, Nick Forster, founder of on-chain options platform Derive.xyz, said that on the day of the crash the options skew for both BTC and ETH fell sharply, reflecting a rush for downside protection. Skew measures the relative demand for calls versus puts; a more negative value indicates higher demand for puts.
“Volatility spiked across BTC and ETH markets. Typically, sharp sell-offs raise only short-term volatility (1–7 DTE), as traders expect short-lived turbulence. However, Friday’s drop produced elevated volatility across all expiries, signaling expectations for prolonged turbulence and an unstable path ahead,” Forster added.
ETH could climb if the daily candle closes above the $4,232 resistance
The 4-hour ETH/USD chart looks bearish and inefficient after Friday’s price action. Last week ETH failed to hold daily support around $4,488 and then plunged more than 20% on Friday. The token has partially recovered and recently closed above $4,150. At the time of writing, ETH is trading near $4,160.
Like Bitcoin, Ethereum’s MACD still supports a bearish bias but could flip if buying pressure continues. The RSI sits around 54, above the neutral 50 level, suggesting buyers are regaining control.
If ETH maintains its recovery and the daily candle closes above the $4,232 resistance, the coin could rally toward the next key resistance at $4,488. Conversely, failure to break above $4,232 could push ETH lower toward the 61.8% Fibonacci retracement level near $3,593 in the coming days.