- Ethereum price faces resistance at $4,298 despite the whale accumulation, and the price is trending backward to retest support at $4,000.
- Whale activity increases the price of Ethereum, but the resistance at $4,298 prevents further gains, bringing price down to $4,000.
- After hitting $4,800, Ethereum struggles with entering the resistance at $4,298, with a support level at $3,600 to $4,000.
Ethereum price has not been able to break the $4,298 mark over the last few days. Earlier in August, Ethereum price hit fresh all-time highs but has since struggled to break above this important price area. Some significant accumulation has been observed among large buyers, but Ethereum price appears to be running out of steam nearing the $4,298 resistance.
Ethereum price Faces Resistance at $4,298 Despite Whale Support
Since the start of March 2025, Ethereum price has experienced a price surge of 170%, jumping from $1,600 to a current price of $4,329.62, as observed by analyst IncomeSharks. The resistance price is at $4,300, with the breaking of this level likely resulting in a pullback to the $4,000 level, which was earlier a resistance. A breakout above the $4,300 level could go up to $4,800.
Source: IncomeSharks/X
The next support is observed at the $3,600 to $3,800 mark, further supported at the $3,250 mark. A 10 percent selling technique implies traders are closing with profits at the resistance. Tracking the Ethereum price around $4,300, $4,000, and $3,600 will be key to seeing future price action.
Ethereum price has fallen by 12.5% in the past few hours as traders sell and the market performs its adjustments, according to analyst ali charts. However, whale activity is also positive, with large holders entering the period of systematic collection in the first week of August thereby demonstrating institutional confidence in Ethereum price.
Source: ali charts/X
Nonetheless, Ethereum price has not been able to climb over the major resistance of $4,298, and has remained unable to hold on to high prices. In case Ethereum price fails to rise above this price, it can retrace to support levels of between $3,600 and $4,000. In the following days, a critical period will come to clarify whether the Ethereum price will continue growing or be corrected.
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