Ethereum Crashes To $4,100 As Senate Democrats Take Aim At DeFi
Ethereum (CRYPTO: ETH) is trading near $4,100 on Friday, after a sharp selloff that followed its rejection from $4,700 and renewed fears of U.S. regulatory pressure targeting decentralized finance.
Ethereum Price Action Points To $3,800 Retest
ETH Price Analysis (Source: TradingView)
Ethereum has fallen below its rising channel, signaling a clean breakdown after repeated rejections near $4,500.
The move pushed ETH under its 20-, 50-, and 100-day exponential moving averages, placing immediate support at $4,100.
Momentum favors sellers, and the price now hovers along an ascending trendline that connects June’s breakout zone around $3,800.
Traders view this level as the next key test for bulls. If ETH fails to stabilize above $4,100, the path toward $3,800 becomes increasingly likely.
Bearish Indicators Flash As Ethereum Momentum Collapses
The 4-hour RSI sits near 27, deep in oversold territory, but still shows heavy bearish momentum.
A quick recovery above $4,350 would ease selling pressure, while a daily close under $4,100 opens the door for a retest of $3,800.
On the upside, only a decisive …