“$ETH Nears Key Pivot—Will the $4,200 Support Hold?”
Ethereum has sunk below the $4,200 mark, stirring concerns about a short-term correction—or could this be a prelude to an explosive rebound? Supply on exchanges is now at multi-year lows, suggesting aggressive accumulation and potential for a supply squeeze. The CME gap is closed, and ETH has broken out of a long-term resistance structure. If these conditions sustain, the path to $10K ETH may not be as far-fetched as it once sounded.
– Support: ~$4,050 (CME gap base)
– Resistance: $4,400, with $5,000 as a psychological milestone
A volatile ride—but with institutional positioning—and a supply crunch developing, big moves could be just ahead.