The broader cryptocurrency market is beginning to recover after a modest pullback in recent days
The cryptocurrency market is gradually recovering following a minor decline over the past few days. Bitcoin dipped to the $60,000 range after reaching a fresh all-time high above $67,000, but it has since rebounded and is trading above $62,000. If market momentum holds, Bitcoin could push toward $65,000 in the near term.
Ether has also been one of this week’s top performers, maintaining its position above the psychological $4,000 mark despite the market-wide pullback. Ether is currently trading above $4,100 and could move higher if its recent bullish momentum continues.
Ethereum price outlook
The ETH/USD 4-hour chart shows bullish signals after Ether’s strong performance over the past several hours. At the time of writing, Ether is trading at approximately $4,133, up about 1.33% over the past 24 hours and more than 8% higher over the past week.
For Ether to press toward the first major resistance at $4,193 within the next few hours, it must avoid slipping below the $4,078 pivot. Broader market support would be needed for Ether to challenge the next resistance level at $4,243.4.
Without a sustained rally, Ethereum may struggle to reclaim and exceed its all-time high of $4,383.4 in the immediate term.
Conversely, a drop toward the $4,078 pivot could put pressure on bulls to defend the first major support level at $3,967. The next support sits at $3,851, and ETH should avoid falling below the $3,800 area unless a prolonged sell-off unfolds across the market.
In the near term, Ether’s price action will largely depend on the wider cryptocurrency market. Overall, the crypto sector has delivered strong performance since the start of the third quarter.