Ethereum (ETH) Technical Outlook: Bears Eye $3,760 as Key Support Level

Ethereum continues its retracement phase, trading around $3,872 after failing to reclaim the $4,175 – $4,221 zone, which aligns with the 50-day and 20-day EMAs. The broader structure shows ETH moving within a descending channel, with lower highs forming since the $4,956 peak.

📊 EMA Overview:

20-day EMA: $4,194

50-day EMA: $4,221

100-day EMA: $3,975

200-day EMA: $3,548

ETH now tests the Fibonacci 0.236 level at $3,762, a critical support area that has held previous pullbacks. A breakdown below this could expose the $3,550 – $3,390 zone, where both the 200-day EMA and major horizontal support converge.

Meanwhile, RSI (14) stands at 40.50, indicating weakened momentum but not yet oversold — signaling room for further downside unless bulls regain control.

If ETH bounces from the $3,760 level, initial resistance sits near $3,990 (Fib 0.382) followed by $4,175 (Fib 0.5) and $4,359 (Fib 0.618). A sustained move above $4,360 would be required to flip sentiment back to bullish.

Key Levels to Watch:

Support: $3,762 • $3,550 • $3,394

Resistance: $3,991 • $4,175 • $4,359 • $4,622

RSI (14): 40.50 – Bears still in control, but watch for possible rebound from $3,760 support zone.

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