ETH/USD — Bears Hold Control Below 3,750 Amid Channel Pressure (Ethereum / US DollarCOINBASE:ETHUSDJohn_IsigeEthereum (ETH/USD) remains under medium-term bearish pressure, continuing to correct within its descending channel against the backdrop of a long-term uptrend. Last week, the pair tested the 3,125.00 level (Murray , 50% Fibonacci retracement) after temporarily breaking below the channel’s lower boundary but failed to consolidate there. Currently, ETH is trading near 3,750.00 (Murray ), supported by the midline of the Bollinger Bands. A confirmed breakout above this level could trigger an upward recovery toward the upper boundary of the descending channel near 4,375.00 (Murray ) and potentially 5,000.00 (Murray ). However, given prevailing sentiment, the base scenario remains bearish — the pair is more likely to resume its decline along the channel’s lower edge, with another possible breakout downward. For bears, the key level remains 3,125.00. A daily or weekly close below it would likely open the path to 2,500.00 (Murray ) and 2,187.50 (Murray ), extending the correction. ⸻ Technical Outlook •Bollinger Bands: Pointing downward — confirming strong bearish momentum. •MACD: Stable in negative territory — trend remains under seller control. •Stochastic: Rising but already overbought — potential for reversal in the short term. •Weekly Chart: ETH continues to trade below the Bollinger midline, keeping downside risks intact. ⸻ Support and Resistance •Resistance: 3,750.00 / 4,375.00 / 5,000.00 •Support: 3,125.00 / 2,500.00 / 2,187.50 ⸻ Trading Scenarios Main Scenario — Sell Stop •Entry: 3,110.00 •Take Profit: 2,500.00 / 2,187.50 •Stop Loss: 3,540.00 •Bias: Bearish continuation below 3,125.00 •Timeframe: 5–7 days Alternative Scenario — Buy Stop •Entry: 3,770.00 •Take Profit: 4,375.00 / 5,000.00 •Stop Loss: 3,360.00 •Bias: Bullish reversal above 3,750.00 ⸻ 💬 ETH remains technically weak below 3,750.00. A breakdown under 3,125.00 would confirm further downside toward 2,500.00, while a close above 3,750.00 could trigger a short-term recovery toward 4,375.00.