🚨 Ethereum $ETH
breaks through the $4,200 barrier
Ethereum 4-hour chart:
- Ethereum is currently trading around $4,190, sitting directly at the support area of $4,150.
- The price is moving within a descending channel, showing short-term corrective pressure after the strong rise it experienced earlier this month.
- As long as the value of $4,150 holds, Ethereum may attempt to break out of the channel and retest the resistance area / all-time high at $4,788.
- If $4,150 is decisively broken, the next strong support will be at $3,900, which also aligns with higher timeframe support.
⚡️ Momentum:
- Short-term bearish structure (lower highs/lower lows).
- A breakout from the channel will shift momentum back to an upward direction.
🎯 Key levels to watch:
- Support: $4,150 → $3,900
- Resistance: $4,788 (all-time high)
