Ethereum Rejected Off $3,950 Resistance, Here Is The Major Buy Level

Ethereum (ETH) has been a top performer, jumping 184% from the April 2025 lows to the July 2025 highs. However, in recent days it has fallen sharply. The first factor to the fall was ETH slamming into a major trendline of resistance. This trend line is found by connecting the major pivot highs of November 2021 (all-time high) and the December 2024 high. The second factor is a reduction in risk asset exposure by investors. The stock market has taken a tumble over the last few days, bringing ETH down.

As a technical trader, I am eyeing the major support of $2,800 as a huge buying opportunity. While ETH is still a ways away, should the stock market continue to sell, ETH will likely continue to dump.

The $2,800 level is an epic retrace to the scene of the crime, a former resistance that was pounded for months and finally saw a breakout. This former resistance now becomes major support.

Written by Gareth Soloway, Chief Market Strategist at www.VerifiedInvesting.com