Let’s not sugarcoat it: the daily chart just served up a classic capitulation candle, complete with a nosedive from approximately $4,600 to $4,029. Traders saw the life flash before their portfolio as high volume confirmed a genuine wave of panic selling.

Support was yanked out like a rug below the $4,400 level, yet the tiny wick at the candle’s bottom shows someone, somewhere, saw value in the chaos. If ethereum wants redemption, it’ll need to put on a convincing show in the next couple of candles. Smart money will wait for price action to rise above $4,300 before taking the bait, with exit dreams dancing around the $4,500 to $4,600 mark.

ETH/USD via Deribit on Sept. 22, 2025. 1-day chart.

Zooming into the four-hour chart, the party isn’t any livelier. ethereum suffered a breakdown from the $4,650 level with red candles lining up like bad decisions at a Vegas roulette table. Momentum has cooled, but not in a good way—it’s more like your phone dying mid-trade. Volume spiked during the drop, classic climax selling behavior. Bulls looking to hop back in should eye a break above $4,250 with volume confirmation, and keep a cautious eye on resistance levels near $4,500. Anything below $4,050? Cue the trapdoor.

ETH/USD via Deribit on Sept. 22, 2025. 4-hour chart.

Now let’s talk hourly chart, the heartbeat monitor of the market. ethereum’s short-term trend paints a tale of heartbreak and hesitation. After peaking at around $4,498.70, it took a sharp nosedive and started loitering around the $4,150–$4,200 zone. A juicy volume spike around $4,029 hints that the worst might be behind us—emphasis on might. If price can reclaim $4,250 with some volume muscle, bulls might have a play. But don’t get cocky: $4,400 stands as a stonewall of resistance, and dips below $4,100 could turn optimism into regret real quick.

ETH/USD via Deribit on Sept. 22, 2025. 1-hour chart.

Let’s decode the secret language of technical indicators—because those oscillators and moving averages? They’re whispering sweet nothings, and none of them are bullish. The relative strength index (RSI) at 39.7, Stochastic at 31.3, the commodity channel index (CCI) at −126.2, average directional index (ADX) at 15.0, and Awesome oscillator at 10.1 are all crying neutral, like they’re waiting for someone else to make the first move. But momentum at −537.4 and the moving average convergence divergence (MACD) level at 23.8 have already RSVP’d “bearish.” Basically, the mood is “meh,” with a dash of “yikes.”

And finally, the moving averages are acting like they’ve seen enough. All the short to mid-range indicators—exponential moving average (EMA) and simple moving average (SMA) from 10 to 50 periods—are flashing negative signals. Only the long-haul indicators, like the 100- and 200-period EMAs and SMAs, are holding up the bullish banner. Translation: short-term momentum is still stuck in reverse, but the long-term trend isn’t throwing in the towel just yet.

In summary? ethereum is licking its wounds, and while there are glimmers of potential for a rebound, the charts demand patience. Unless the price starts stacking higher highs and higher lows, especially on lower timeframes, the bears still have the louder voice.

Bull Verdict:

If ethereum holds above $4,150 and confirms a breakout above $4,250 with volume, a short-term rally toward $4,500 isn’t off the table. The long-term moving averages still support an uptrend, suggesting the bulls could regain control—if momentum shifts soon.

Bear Verdict:

Despite signs of capitulation, ethereum’s technical indicators and moving averages remain largely bearish in the short term. Without a confirmed reversal and a break above key resistance levels, this could just be a dead-cat bounce before another leg down.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。