Ethereum (ETH) is currently at a critical juncture. After facing heavy resistance above $4,200, traders are questioning whether ETH will slide down toward the $3,491 support or mount a strong recovery targeting $4,793.
On the bearish side, market volatility and profit-taking could trigger a correction, pushing ETH closer to the $3,491 demand zone. However, bulls are eyeing strong accumulation levels. If buying momentum sustains, ETH could reclaim the $4,500 range and potentially retest $4,793 in the near term.