The price of Ethereum is stabilizing around $4,430 after a wild drop from the $4,950 range. The drop came after ETH was strongly rejected at a major supply block between $4,900 and $5,000, which stopped the recent rise. Even though it has pulled back, ETH is still trading above its rising trendline support, giving buyers a chance to regroup and make another push higher.
The price of Ethereum is stabilizing around $4,430 after a wild drop from the $4,950 range. The drop came after ETH was strongly rejected at a major supply block between $4,900 and $5,000, which stopped the recent rise. Even though it has pulled back, ETH is still trading above its rising trendline support, giving buyers a chance to regroup and make another push higher.
Ethereum has been on a long-term upward trend for most of August, rising from below $3,800 to almost $5,000. ETH is still in an upward trend on the 4-hour chart, with higher lows still in place. The $4,400 level is now a key turning point where the trendline and local support meet. The parabolic SAR dots are still above the price, which shows that there is short-term bearish pressure, but the larger structure is still intact.
The current pullback in Ethereum price is driven primarily by overhead supply near $5,000 and fading intraday momentum. The 30-minute chart shows ETH capped under a descending trendline, with RSI at 46, reflecting cooling demand. The MACD line is still in negative territory, though its histogram shows early signs of flattening, suggesting that bearish pressure may be easing.
Spot inflows also turned negative, with Coinglass data showing a net outflow of $54.7M on August 26. This indicates mild profit-taking after the strong rally earlier this month. While outflows often reflect accumulation, the timing alongside technical rejection suggests cautious positioning by traders.
Bollinger Bands on the 4-hour chart show price testing the midline near $4,510 after falling from the upper band at $4,947. A close above this level would ease downside risk, but repeated rejection could trigger renewed volatility. The 200 EMA near $4,100 provides deeper support, while the 20 and 50 EMAs around $4,510 and $4,380 form the immediate decision band for traders.
The Supertrend indicator remains bearish under $4,740, confirming the rejection zone. Meanwhile, the DMI shows a near balance between +DI and –DI, with ADX flattening around 25—pointing to a weaker trend.
The Money Flow Index (MFI) on the daily chart sits at 49, indicating a neutral liquidity stance after a strong run. This suggests neither strong inflows nor aggressive exits, aligning with the current consolidation.
If Ethereum price today holds the $4,400–$4,380 band, bulls could attempt a recovery toward $4,600 and then retest $4,750. A breakout above $4,840 would reopen the door to $5,000, where liquidity remains heavy.
On the downside, failure to hold $4,380 risks a slide toward $4,100, where the 200 EMA provides structural support. A deeper breakdown could revisit the $3,750 demand zone highlighted on the daily chart.
Given RSI stabilization, flattening MACD momentum, and mixed inflow data, ETH is likely to consolidate in the $4,380–$4,600 range before making its next decisive move. Traders should monitor the $4,400 pivot for clues on whether the next swing will favor buyers or sellers.
