Ethereum recently dipped into the $4,100 zone, a key Fibonacci support cluster, and quickly bounced, suggesting strong buying interest at that level. For now, $4,100 is acting as immediate support, with $3,665 and $3,374 as the next downside levels if weakness continues. On lower timeframes, ETH swept liquidity at $4,100, bounced toward the 23.6% retracement level, and is still following Bitcoin’s short-term structure. However, the trend remains bearish with lower lows and lower highs, meaning this bounce could be part of a corrective B-wave rather than a new impulsive rally. From an Elliott Wave perspective, the drop to $4,100 looks like an A-wave, and the current bounce is shaping into a B-wave that could even overshoot resistance before a possible C-wave pullback. The critical resistance levels to watch are $4,331, $4,416, and especially $4,500. A breakout above $4,500 would likely invalidate the corrective setup and open the door for another cycle high, while failure to clear it could signal another leg lower

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