Here is a detailed analysis of the current situation of ETH around $4,200:
⚠ Why $4,200 is the level everyone is watching
Critical support zone: $4,150-$4,200 has acted as a major demand zone in recent sessions.
Why this matters: If ETH holds above $4,200, it signals strength and could trigger a rebound.
If ETH falls below $4,150, the decline could accelerate towards $4,000-$3,950 (next strong support).
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📊 Technical breakdown
Orientation: ETH is still in a broader bullish trend, but the short-term momentum is weakening after failing to hold above $4,500.
Indicators:
RSI → Cooling from overbought (70+) towards neutral, meaning buyers are losing momentum.
MACD → Still bullish, but the histogram is narrowing — momentum is fading.
Volume → Decreasing on rebounds, suggesting a lack of strong conviction from buyers.
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🔥 Scenarios in preparation
Scenario trigger Possible movement
Bullish rebound Maintained above $4,200 and recovery of $4,300 Rebound at $4,450-$4,500
Bearish breakdown Loss of support at $4,150. Drop to $4,000, then $3,950.
Sideways Chop stuck between $4,150 and $4,300 Market in a range
⚠ Warning signs
ETF selling pressure: some ETFs have reduced their positions after recent highs.
Whales moving coins: on-chain data shows that whale wallets are sending ETH to exchanges, often a bearish sign.
Cooling of open interest: derivative markets indicate reduced bullish leverage.
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Quick take
Don't be FOMO at $4,200: this is a decision zone, not a breakout.
Best approach: wait for confirmation:
Bullish: above $4,300 with significant volume
Bearish: below $4,150 with strong selling pressure
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