Ethereum Price Analysis — October 27

Following a retest of the $4,370 - $4,330 axis earlier today, ETH has formed a double top pattern and has acted accordingly; in a bearish manner. The largest altcoin fell to the $3,935 low a while back before jumping back above the $4,000 support. That said, I expect to see a bearish continuation into the $3,970 - $3,840 consolidation area over the coming hours and days, followed by a healthy rebound to the $4,3000 area before month-end. However, a sustained break above the $4,100 figure in the near term could stall the current bearish trajectory and push ETH towards the critical $4,370 level.

Meanwhile, my resistance levels are $4,100, $4,200, and $4,300, and my support levels are $4,000, $3,900, and $3,800.

Total Market Capitalization: $2.48 trillion

Ethereum Market Capitalization: $474.3 billion

Ethereum Dominance: 19.1%

Market Rank: #2