After a 7% increase in the last week, the current price of ETH hovers around 4,600 dollars, in a relevant support zone. The chart reflects a still constructive trend, although pressured by the recent correction.
In the bullish scenario, if it defends the support at 4,500 – 4,600 dollars, ETH could drive a new rally towards 4,800 dollars and even 4,900 dollars, where technical resistances are located. Exceeding that range would open the way towards 5,000 dollars with validation of the bullish structure.
In the bearish scenario, a break below 4,500 dollars would weaken the trend, with risks of pullbacks towards 4,300 dollars and subsequently 4,100 dollars, partially invalidating the bullish bias.
