September 18 Ether Price Analysis: Minor Decline Fails to Shake $4,000 Support Zone

Ethereum (ETH) has a 24-hour trading volume of $46.52 billion and is currently trading at about $4,583. Despite a minor decline in the last day, the asset has nevertheless increased by 3.47% this week. Even with these changes, ETH is still trapped in a range. While $4,000 serves as a strong support level, the all-time high reached almost $4,900.
The recent sweep of the ATH is followed by sideways movement on the 2-hour chart of ETH/USDT. ETH has been lackluster since the ATH sweep, according to Crypto Bully, who also said that until either level is broken, the market appears to remain in a range.
Ethereum Analysts Highlight $4,100–$4,200 Zone as Critical Resistance
Short-term weakness is indicated by the price’s decline below the Monday low and its approach to the monthly open. Nevertheless, as long as ETH trades over $4,000, the larger range remains intact. Any potential is still capped by short-term levels like the Monday high and weekly open. Additionally, $4,100 to $4,200 was noted by Crypto Bully as a region of interest. The analyst cautioned that price acceptance below $4k is an invalidation. In such a case, a more comprehensive correction may be required. As of right now, there is no significant breakout in sight, and circumstances are still sideways.
ETH Long-Term Chart Signals Potential Surge Toward $20,000

A longer-term chart reflecting Ethereum’s price history across several cycles was shared by CryptoELlTES. ETH touched the top of a rising channel at the peaks in 2017 and 2021, according to the graphic, while cycle lows developed at the lower boundary. Remarkably, ETH has recently returned to the main channel after rising over this lower threshold. Near the top of the channel, ETH might be headed for a new ATH in 2025 if the pattern holds true. A potential range of $15,000 to $20,000 is indicated by that estimate. However, it is contingent upon the channel holding as it has in prior cycles.
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