#Ethereum# , Last week it rose to the $4,780 range, reaching its highest level since November 2021. While the downtrend has continued for the past week, the area of around $4,150 that we are currently tracking has become significant. We are monitoring this level with the short-term trend line of Ethereum, which accelerated its upward momentum in July. Breaking this support could weaken the upward momentum in Ethereum and may extend the correction to the $3,550 range. This price area, which could dip to around $3,450, will be monitored as the main support region for Ethereum in the event of a substantial decline. In the case of a possible break, a pullback could be triggered to the $2,600 area. On the other hand, if Ethereum can find support from this price level, it is likely to continue the trend, potentially extending to the $4,000 threshold. Thus, with a similar outlook to the last week of July, it could become likely for $ETH to create a new peak in its target area of $5,500. In another scenario, if the cryptocurrency moves below $4,000 with daily closes, it may begin a search for support around $3,500 this time. Staying above this price level would mean maintaining the main trend, and a stronger trend towards the $5,000 range could form in the next phase.