Ethereum is consolidating near $4,270 after a 4.5% pullback from its recent high of $4,480. The key level to watch is $4,200, holding here could set up a rebound, while a breakdown may lead to a deeper drop toward $3,950.
The market is neutral for now, with mixed signals: the RSI suggests consolidation, but the MACD remains bearish in the short term. If $ETH reclaims $4,350, bulls could retest $4,480 and beyond. However, failure to hold $4,200 would signal further downside.
Overall, the trend is still bullish long-term, but short-term price action depends on whether buyers defend $4,200 or sellers take control.
