Ethereum price prediction: ETH steady near $3,535 as trendline support holds against rising resistance
Ethereum price is trading around $3,535 on August 4, up 0.10% intraday, as the asset consolidates near a short-term ascending trendline support visible on lower timeframes. The price recently climbed above $3,560 before facing resistance and retreating back toward its VWAP at $3,545, a level now acting as an intraday magnet.
Highlights
- Ethereum holds above $3,500 with a modest 0.10% gain amid consolidation near short-term support
- Weekly breakout structure remains intact, but $3,950–$4,200 zone poses significant resistance
- Open interest rises 1.07% while long/short ratio signals bullish crowding ahead of potential volatility
While the RSI (14) sits at 62.44, a bearish divergence is forming, raising caution over short-term exhaustion. The lower Bollinger Band at $3,532 may act as a buffer, though a decisive breakdown could expose Ethereum to a retest of $3,500, followed by $3,440 if selling accelerates.
ETH price dynamics (Source: TradingView)
Price action remains above the rising structure that began forming on August 2, and this support must hold to preserve the short-term uptrend.
Weekly breakout holds, but overhead supply looms
From a broader perspective, Ethereum has now posted four straight weekly gains, successfully breaking above the long-standing descending trendline from March 2024. This marks a structural shift and confirms the end of the multi-month series of lower highs. However, ETH is now nearing a heavy resistance area between $3,950 and $4,200, which served as a top in late 2021 and again in mid-2024. Until that zone is cleared, bulls may face profit-taking from long-term holders.
In derivatives, open interest rose 1.07% to $47.85 billion, while options interest climbed 1.77%, signaling rising speculative exposure. Despite a 31% drop in overall trading volume, the long/short ratio on Binance sits at 1.963, with top traders exceeding 2.0, indicating strong bullish bias. Such crowding can magnify volatility if price fails to reclaim $3,560 soon.
In earlier coverage, we highlighted Ethereum’s breakout above $3,150 as a critical reversal point. The structure remains bullish, but price now requires firm support above $3,500 and renewed buying interest to extend higher. Traders should monitor for signs of liquidation pressure if ETH drops below its trendline support.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
