TL;DR
- ETH trades near $4,200 with analysts watching $4,000–$4,100 support and $3,860 secondary zone.
- EGRAG CRYPTO sees potential retest of $4K support, projecting a broader move toward $10,000–$12,000.
- Ash Crypto calls the triangle breakdown a shakeout, with $4,160–$4,200 support and $4,600–$4,800 resistance.
Short-Term Pullback and Key Levels
Ethereum is trading near $4,200 after sliding almost 6% in the last 24 hours and over 8% weekly. During the past seven days, ETH has traded in a range between $4,200 and $4,600. On the daily chart, the 21 EMA continues to act as a short-term guide as ETH searches for support.
Source: EGRAG CRYPTO/X
Analyst EGRAG CRYPTO noted that this move may set up a relief rally. They said, “The potential for a retest of the $4,000 mark with the potential 21 EMA is still very much alive.” Current support sits between $4,000 and $4,100, with $3,860 as a secondary level to watch.
On higher timeframes, Ethereum has already broken out of a descending broadening wedge. The pattern suggests that ETH is now retesting $4,000 as support after its breakout. EGRAG CRYPTO pointed to a longer-term projection, saying,
“With strong market dynamics and a positive sentiment, we could see ETH making a significant push toward the $10,000–$12,000 range.”
Past consolidations have followed similar rejection points before price continued upward. Analysts suggest that as long as ETH holds above the $3,860–$4,000 range, the long-term outlook remains constructive.
Triangle Breakdown Seen as Shakeout
Analyst Ash Crypto pointed to a separate development on the daily chart, where ETH broke down from a symmetrical triangle that had been building since mid-July. The drop confirmed short-term weakness, often associated with stop-loss triggers and sharper volatility.
They described the move as a final reset before renewed upside, saying,
$ETH has broken down from the daily chart triangle
This will be the last shakeout before a huge rally in Q4 pic.twitter.com/fV85AVUC5M
— Ash Crypto (@Ashcryptoreal) September 22, 2025
Support is now found around $4,160–$4,200. If this zone fails, ETH could revisit $3,850–$3,900. On the upside, reclaiming $4,400 would be the first sign of strength, with $4,600–$4,800 as the next resistance zone.
The $4,000 zone has remained at the epicenter of near-term direction for Ethereum. If the price manages to hold on to this level, it may open the door for some recovery toward $4,600 and beyond. Failure to defend will stretch the pullback toward $3,850.
Market participants are observing whether the pullback turns out to be a brief shakeout before a stronger Q4 rally or more profound retracement. The upcoming daily and weekly closes will be heavily scrutinized for confirmation.
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