Ethereum Faces Key Retest After Breaking Multi Year Resistance With $6,400 Target Ahead, Says Ana...

Ethereum trades near $4,407 after rejection at $4,800, testing crucial support between $4,200 and $4,400.

Analyst Rose highlights upside targets of $4,843, $5,579, and $6,407 if Ethereum holds above the current retest zone.

RSI cools to 54.53 while Bollinger Bands suggest volatility, leaving Ethereum’s next direction dependent on weekly close.

Ethereum is moving through a decisive phase after breaking a multi year resistance zone earlier this month. ETH surged close to $4,800 before facing rejection and retreating toward $4,400

According to analyst Rose, the current pullback is the first major test of the breakout, with a retest zone forming between $4,200 and $4,400. The outcome of this phase could determine whether Ethereum advances toward higher resistance levels or slides back toward Fibonacci retracement zones.

Key Retest Levels

At press time, Ethereum was trading at $4,407.53, slightly down by 0.62% in the past day. Price action shows a session high at $4,454.55 and a low near $4,318.17

ETH/USDT 1-week price chart, Source: Rose on X

Notably, the breakout above a descending resistance trendline, which capped multiple attempts throughout 2024 and early 2025, has set up a critical retest. The outlined support zone aligns with the 0.382 retracement level near $3,852, marking a key threshold for market strength.

Short Term Consolidation and Market Indicators

The Bollinger Bands show strong volatility, with the upper band near $4,905 and the lower band close to $3,897. Ethereum is holding just above the middle band at $4,401, suggesting a short term consolidation phase

ETH/USD 1-day price chart, Source: TradingView

However, the recent move outside the ascending channel formed between April and July indicates momentum has changed after a fast push toward $4,900. The RSI is at 54.53, down from overbought levels above 70 last month, showing cooling strength.

Upside and Downside Scenarios

Analyst Rose noted upside targets at $4,843, $5,579, and $6,407 if the retest holds above support. Closest resistance is $4,800–$4,900, and a breakout above is likely to push it beyond $5,000.

But a failure to hold above $4,400 can push Ethereum down into the lower Bollinger Band of $3,900. Further decline can visit Fibonacci levels at $3,436 and $3,020, with the latter being the most significant support zone.

Ethereum's overall perspective remains bullish, but immediate direction is now dependent on how the asset responds to the $4,200–$4,400 range.

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