$ETH is currently trading at $4,584.66, showing strong momentum in the broader cryptocurrency market. From a technical standpoint, the nearest support level is around $4,420 – $4,450, which has previously acted as a consolidation area in recent trading sessions. If ETH maintains strength above this support level, it indicates ongoing bullish interest from both retail investors and institutional investors.

A deeper correction could find stronger support near $4,250, an area where buyers have previously participated.

On the upside, immediate resistance is near $4,650 – $4,700, where recent selling pressure has prevented upward movement. A successful breakout above this zone could open the door toward the psychological level of $5,000, an important milestone that traders will closely monitor.

Overall, ETH remains in a bullish structure, but a short-term correction to support levels may provide better entry opportunities for those looking to join the trend.