🟣 Technical Analysis of Ethereum (ETH) 🚀
ETH at $4,200: The Key to Returning to the Peaks
Ethereum (ETH) is currently trading around $4,200. This range represents a critical resistance/support area, where previous attempts to break through it decisively have failed or formed a strong consolidation area.
Monitoring and Trading Levels:
Immediate critical support: $4,000 - $4,100. Staying above this psychological and technical support is essential.
Resistance/First Target: $4,350. Breaking through this level confirms the resumption of the upward trend.
Second target after the breakout: $4,500 - $4,600. (Returning to pre-correction levels).
Short-term movement expectation:
The current price of $4,200 puts it in direct confrontation with nearby resistance. The short term requires a strong daily candle close above $4,250 to confirm buyers' dominance. If this happens, the price is expected to surge quickly towards $4,500 to test liquidity areas.
Important Note: If Ethereum fails to maintain the $4,000 level, we may witness a deeper correction towards $3,800.