Ethereum Tests $3,700 Resistance – Bulls vs Bears Battle

Ethereum is once again testing a major resistance level near $3,700, creating a decisive moment for the cryptocurrency’s near-term direction. According to Crypto King, a well-known crypto analyst, ETH has reached a crucial point on the daily chart that could determine its next major move. The analyst noted that ETH’s price action is currently hovering around a key level, making this moment critical to track the broader market structure. The main uptrend line has been tested once again, and the outcome of this test will set the tone for Ethereum’s next directional move.

The $3,700 level represents more than just a psychological barrier – it serves as a technical gateway that could either validate the ongoing bullish trend or signal the beginning of a deeper correction. Market participants are closely monitoring how ETH reacts around this critical zone, with recent sessions showing renewed strength but lacking the decisive breakthrough needed to confirm buyer dominance. The current positioning suggests that Ethereum is at an inflection point where traditional support and resistance dynamics will likely dictate the next significant price movement.

Should the bulls manage to reclaim the trendline and drive the price above key resistance levels, Crypto King believes this could open the door for substantial upward movement. The analyst specifically noted that a successful break above $4,950 could pave the way for a strong move toward $5,600. Such a breakout would reaffirm the ongoing bullish trend and could attract renewed market interest from both retail and institutional participants seeking to capitalize on confirmed momentum.

Adding to the bullish perspective, analyst Ted Pillows highlighted that if Ethereum closes a daily candle above $3,700, it could trigger a fresh wave of bullish momentum, potentially pushing the price toward $4,000 in the shorter term. This initial breakout would signal that buyers are regaining control and could establish a foundation for further upside in the days ahead. The $4,000 level would then become the next significant test for ETH’s strength and sustainability.

However, both analysts caution that failure to hold this key level may invite significant selling pressure. Crypto King warned that such failure could trigger a drop toward the $2,000 zone, which would invalidate the broader uptrend that has supported ETH in recent months. This substantial correction scenario represents a nearly 50% decline from current levels and would signal a major shift in market sentiment and technical structure.

Ted Pillows provided a more immediate bearish outlook, noting that if ETH fails to break through the $3,700 resistance, a rejection could bring its price to the $3,400 support zone. This would indicate that bears are still defending the upper levels, keeping the price trapped within its current range. The $3,400 level represents a critical support that, if broken, could accelerate downward momentum toward lower support zones identified by both analysts.

In this volatile environment, both Crypto King and Ted Pillows emphasize the importance of disciplined trading approaches. Crypto King concluded by reminding traders to stay calm and let the chart speak, emphasizing patience over panic. The analyst stressed that in volatile conditions like these, the market often rewards those who wait for clear confirmations rather than reacting impulsively to every price movement.

The current ETH price action serves as a textbook example of why technical analysis emphasizes confirmation over anticipation. Rather than predicting outcomes, successful traders typically wait for the market to declare its intention through decisive breaks above resistance or below support. This approach minimizes false signals and helps traders avoid being whipsawed by temporary price fluctuations that don’t reflect genuine trend changes.

As Ethereum continues to test this critical technical level, market participants are advised to monitor volume patterns, time frame confirmations, and subsequent price action following any breakout or breakdown. The coming sessions will likely provide the clarity needed to determine whether ETH can build on recent gains or if a more substantial correction is necessary before the next sustainable upward move can begin.