Following an explosive multi-week rally, Ethereum prices show signs of fatigue as the market responds to resistance near the $3,820 supply zone. Today’s Ethereum prices fell 1.9% during the day to around $3,690, after falling below both support from both local VWAP and trendlines. Traders are closely looking at regions ranging from $3,650 to $3,680. This defines the movement in the next direction:
What will be the price of Ethereum?
ETH Price Dynamics (Source: TradingView)
ETH has been subject to technical denial after vertical driving of $2,800 to almost $3,820 to about 3,820 people. The 30-minute chart reveals a clean break under the rising wedge structure, followed by a bearish retest of the broken trendline. This shift occurred shortly after ETH was unable to maintain it above $3,800.
ETH Price Dynamics (Source: TradingView)
The one-day chart shows ETHs still retained than all major Emmas. However, the daily candle is cut under an upper bollinger band that costs nearly $3,940, which has expanded significantly during the recent surge. This suggests that Ethereum price volatility could launch contracts, especially if regions between $3,650 and $3,600 are not held as support.
Why are Ethereum prices falling today?
ETH Price Dynamics (Source: TradingView)
Today, the reason for Ethereum prices are falling is due to two important pressures. The first is the confluence of historical levels of resistance. The second is visible profits from leveraged traders. On the weekly chart, ETH touched on the 0.786 Fibonacci retracement for $3,624 before turning back, from a decline from November 2024 to April 2025. This area has previously caused multiple rejections, but the current price action appears to be repeating that pattern.
ETH Price Dynamics (Source: TradingView)
The Smart Money Concept Indicator confirms short-term changes to characters below the $3,750 region. ETH also failed to break through the $3,820-$3,940 supply block. This is clearly highlighted in both the daily charts and Luxalgo charts. This has drawback pressures that target demand clusters between $3,600 and $3,500.
ETH derivative analysis (source: Coinglass)
On-chain positioning and futures data support this outlook. Ethereum’s 24-hour volume rose 12.6% to $14732.9 billion with open interest at just 2.73%, according to Coinglas. This indicates that the volume is driven by liquidation or profit exits rather than a new conviction. Binance Top Trader is long at 2.62. This indicates that if $3,650 fails, the long distance is significantly exposed and more vulnerable.
EMA structure, SAR, and VWAP levels confirm the possibility of failure
On the one-day chart, ETH is far ahead of the 200 EMA at $2,582 and at $2,625 at 100 EMA. However, prices are currently back towards the mid-bollinger line, around $3,065. This can act as a medium pullback zone if the support level is not retained.
ETH Price Dynamics (Source: TradingView)
The short-term chart, which includes 30 minutes and 4 hours, reveals more careful photos. The 4-hour chart supertrend has yet to turn the whiskers overturned, but the parabolic SAR is already negative. VWAP has been rejected by multiple candles, with prices pushing the bottom Bollinger band, increasing the risk of acceleration to under $3,600.
The immediate support structure is $3,520, followed by about $3,590. These levels correspond to previous breakout zones. If sellers push under them, the next potential target will be liquidity regions between $3,380 and $3,400 starting in mid-July.
ETH Price Forecast: Short-term Outlook (24 hours)
Currently, today’s Ethereum prices are being revised amid a larger bullish trend. Checking ETH for hourly closures below $3,650 could drop even further from $3,590 to the $3,520 zone. Deeper goals include $3,380 and $3,200, when prices were last merged before the recent breakout.
A recovery from VWAP at $3,719 to the $3,750-$3,780 range will be needed to compensate the Bulls for $3,820. However, this requires fresh volume and feelings of improvement in the derivatives market.
With parabolic SAR flipping, VWAP resistance and long exposure climbs, ETH remains more vulnerable to the downsides unless the buyer strongly defends current support.
Ethereum price forecast table: July 23, 2025
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