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Ethereum price is in a short-term correction, trading near $4,629 and testing local support at $4,519; failure to bounce could see ETH drop toward $4,300–$4,400, while a weekly close above $4,788 would keep a near-term bullish case intact.
ETH is testing key support at $4,519 — a decisive close below may trigger a move to $4,300–$4,400.
Daily decline of 2.70% signals short-term selling pressure; watch the $4,887 resistance for a confirmed breakout.
Current price: $4,629; weekly close above $4,788 would point to renewed upside toward $5,000 (data: CoinStats, TradingView).
Ethereum price falls toward $4,519 support as market correction unfolds; ETH at $4,629. Read analysis, levels to watch, and trading bias from COINOTAG.
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What is the current state of the Ethereum price?
Ethereum price is undergoing a short-term correction, down 2.70% over 24 hours and trading near $4,629. Price action shows testing of local support at $4,519; a failure to hold this level could lead to a decline to the $4,300–$4,400 zone.
The market is facing a correction at the beginning of the week, according to CoinStats.
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ETH chart by CoinStats
How close is ETH to support and what are the next technical levels?
On the hourly chart, ETH sits near the local support at $4,519. If the price fails to bounce by the end of the day, traders can expect a level breakout followed by a decline toward $4,400.
The price of Ethereum (ETH) has declined by 2.70% over the past day. This move reflects increased selling pressure in the short term while broader market sentiment remains mixed.
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Image by TradingView
On higher time frames, ETH fell after a false breakout above resistance at $4,887. A confirmed weekly candle close near or above $4,788 would revalidate the midterm bullish scenario and open the path to $5,000.
Image by TradingView
If the daily candle closes with little upper wick and near its low, momentum would favor further downside. In that scenario, expect the $4,300–$4,400 range to become the immediate price objective.
Image by TradingView
From a midterm perspective, it is too early to make long-term predictions. If the weekly close is above $4,788, traders should watch for a retest of $5,000. Ethereum is trading at $4,629 at press time.
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Frequently Asked Questions
What happens if ETH breaks $4,519?
If ETH breaks and closes below $4,519 on the daily chart, expect accelerated selling toward $4,300–$4,400. Traders should reduce leverage and watch volume for confirmation.
How likely is a rebound to $5,000?
A rebound to $5,000 requires price to reclaim and hold above $4,788 on the weekly close and clear $4,887 resistance. Until then, upside remains conditional on confirmed momentum.
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📊 Make data your edge
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🧭 Be prepared, not reactive
Turn setups into rules before you trade.
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Key Takeaways
Short-term correction: Ethereum down 2.70% and testing $4,519 support.
Critical levels: Support $4,519; resistance $4,887; weekly pivot $4,788.
Trading action: Watch daily/weekly closes, volume, and use $4,300–$4,400 as a measured downside target.
Conclusion
Ethereum price is in a clear short-term correction with immediate focus on $4,519 support and resistance at $4,887. COINOTAG recommends monitoring daily and weekly closes and managing risk accordingly. Traders should watch these levels to determine whether a medium-term bullish or bearish path will prevail.
