Overview

• ETH trades near $3,700–$3,741, more than 24% below its $4,946 all‑time high set about two months ago, with weekly losses exceeding 16% per CoinGecko.
• Analyst Darkfost says price may have marked a ‘wave 4’ low at the 200‑day EMA near $3,500, with resistance flagged at the 21‑ and 50‑day EMAs around $4,250 and RSI still below 50.
• Darkfost adds that a sustained momentum turn could open a path toward $5,000, framing this as a scenario dependent on EMAs and RSI reclaiming bullish territory.
• On‑chain firm Alphractal reports the Exchange Withdrawal Count is declining rather than spiking as in past peaks, suggesting the cycle top may not be in or that this run is an outlier.
• NewsBTC links the latest downdraft toward $3,700 to President Donald Trump’s new China tariffs, while Brave New Coin highlights trader focus on the $3,800–$4,000 support zone and reports Bitmine Immersion Technologies purchased about $480 million in ETH.