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Ethereum Updates Today: Ethereum Holds $3,930 as Key Support Following Drop Below $4,000

Ethereum Updates Today: Ethereum Holds $3,930 as Key Support Following Drop Below $4,000

Bitget-RWA2025/10/29 03:28
By:Bitget-RWA

- Ethereum fell below $4,000 on Oct. 28, marking a 3.59% drop and ending a five-day rally, its largest decline since October 2025. - Traders monitor $3,930 support, with breakdowns risking a test of $3,870–$3,880, while $3,945–$4,000 remains a key technical battleground. - Long-term optimism persists as Ethereum’s CD 5 Index rebounds, but near-term stability hinges on overcoming resistance near $4,000. - Upcoming Fusaka upgrade aims to boost smart contract efficiency, potentially driving ETH demand and alt

On October 28, Ethereum's value dipped below the significant $4,000 mark, falling 3.59% to $3,984.34, as detailed in a

. This decline snapped a five-day streak of gains and marked the steepest one-day percentage drop since October 22, 2025, when the cryptocurrency lost 4.53%. Despite this, Ethereum has still gained 19.12% so far this year, though it now sits 19.59% under its record intraday peak of $4,955.23 from August, according to Morningstar. Market participants are monitoring whether can maintain support above $3,930. Should it fall below this point, analysts warn it may test the $3,870–$3,880 support band highlighted in a .

Experts in technical analysis point to the $3,945–$4,000 zone as a crucial area for short-term direction. Although Ethereum briefly surpassed $4,001.69 earlier in the week, renewed selling pressure limited further advances, according to CoinDesk. The asset has since been trading within a tight band between $3,930 and $3,940, with intraday movements unable to break through major resistance. If Ethereum can close above $4,000 for an extended period, it could pave the way toward $4,100 and the highs seen earlier this month. Conversely, failing to stay above $3,930 could prompt a move back to the $3,870–$3,880 range, as outlined in a

.

Ethereum Updates Today: Ethereum Holds $3,930 as Key Support Following Drop Below $4,000 image 0

Looking further ahead, the outlook remains cautiously positive. Yahoo Finance notes that CoinDesk's 5 Index (CD 5) has bounced back from a mid-October low, with analysts maintaining that the long-term upward trend is intact as long as near-term resistance is overcome. The index climbed from 1,945.13 to 1,953.72 over the week, recovering from an intraday trough of 1,922.57 as support held between 1,920 and 1,925. On the monthly chart, Ethereum's steady push toward $4,000 highlights the need to turn the upper $3,900s into a solid base for future upward moves, according to CoinDesk.

There are also important fundamental developments on the horizon. The Ethereum network is approaching the final testnet stage for the Fusaka upgrade, designed to improve smart contract performance and lower gas fees, as reported by

. Analysts believe that a successful rollout could boost demand for ETH’s utility, benefiting other tokens built on the network. Current technical signals, such as an RSI nearing oversold territory and a MACD suggesting a possible trend reversal, indicate a potential rebound from the $3,850 support area, which has historically attracted buyers, according to Yahoo Finance.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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