Ethereum Forecast: Continued Rise or Imminent Correction?
Ethereum successfully broke through the resistance zone between $3900 and $4100 and closed above it, reinforcing the upward trajectory of the currency. However, negative divergences on the charts indicate the possibility of a short-term pullback to retest the same support levels.
Maintaining the price above $3900 keeps the positive trend intact, while breaking below it could invalidate the recent breakout. Additionally, the increase in Bitcoin dominance may exert pressure on Ethereum’s performance compared to Bitcoin in the upcoming period.