Analyst Ali Martinez has observed that $ETH must break above $4,841 to reverse the current downtrend. A successful move higher could open the door to a run toward $5,864.
If the price fails to clear resistance, a correction could follow with downside risk toward $2,750, a level that aligns with lower deviation support.
Are The Next 24 Hours Crucial For Ethereum?
Immediate Support Levels For $ETH
Ethereum faces a crucial 24 hours as it tests support after its most bearish week since August. The coin has lost its uptrend against both the dollar and Bitcoin, signaling relative weakness. Important levels sit between $3,900 and $3,600, with $3,700–$3,800 seen as the most likely zone for a short-term bottom.
Upcoming Catalysts For $ETH
The release of the PCE price index today could act as a catalyst, and weaker-than-expected data may help Ethereum stabilize. A rebound toward $4,100 remains possible if support holds, but failure to do so could open the door to deeper losses toward $3,300 or even $3,000.
Geopolitical and Domestic Pressures Weigh on Markets
Reports of U.S. jets intercepting Russian bombers near Alaskan airspace added to investor anxiety, though details remain unclear.
At the same time, the odds of a U.S. government shutdown have climbed to 75%, raising fears of federal job cuts and program suspensions. Analysts warn that furloughs and spending freezes could further strain an already fragile economy.
Related: Ethereum Price Prediction: Analysts Warn of Whale Selling as $ETH Tests $4K
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