Ethereum has recently performed steadily, consolidating above the breakout area of $4,200–$4,300. Based on historical experience, as long as the support level is maintained, this type of breakout structure usually suggests that there is a chance for further upward movement.

On the four-hour chart, ETH is operating within an ascending parallel channel, with the midpoint around $4,600, forming support. Key exponential moving averages (20/50/100/200) are concentrated in the range of $4,220–$4,530, providing multiple layers of buffer for bulls. The RSI indicator has dropped to 49, recovering from the previous overbought state, leaning neutral, leaving room for both bulls and bears to maneuver in the market.

Analysts point out that if ETH can break through $4,800, there will be a chance to challenge potential targets of $5,200, or even $6,000. However, if it falls below the $4,300 support, it may test that area again, but this support has been effective for the past two months, so bulls still have a chance to stabilize the situation.

With ETH holding support and challenging key resistance, there are still short-term upward opportunities. Novice investors can pay attention to support and resistance levels, grasp the rhythm reasonably, and avoid blindly chasing highs.