$ETH Holding Above Key Support After Intraday Pullback
Ethereum (ETH) is trading at $4,607.88 (-1.45%), retreating from an intraday high of $4,788. Price is consolidating just above the $4,600 support zone after a sharp drop from the $4,700–$4,750 resistance area. The order book is strongly bullish with 97.48% buy-side volume, suggesting significant accumulation interest at current levels.
Key Levels to Watch
• Resistance: $4,700 — $4,750 — A breakout could aim for $4,800 and beyond.
• Support: $4,600 — Below this, downside targets sit at $4,550 and $4,500.
Trade Setup
Bullish Scenario:
• Condition: Hold above $4,600 and break $4,700 with strong momentum.
• Targets:
• TP1: $4,750
• TP2: $4,800
Bearish Scenario:
• Condition: Drop below $4,600 support.
• Targets:
• TP1: $4,550
• TP2: $4,500
ETH’s strong buy-side order book is a positive sign, but bulls must reclaim $4,700 to regain full momentum toward the $4,800 resistance zone.