Ethereum has slipped to a two-week low as a $4 billion supply influx rattles investor confidence. The dip raises critical questions: is this a temporary setback in ETH’s long-term rally, or the start of a deeper correction? Traders are closely watching whether Ethereum can stabilize and rebuild momentum toward the $5,000–$5,100 resistance zone, a key level that could determine the coin’s next major move.
Ethereum on the Rise: Eyes Set on Breaking $5,100 Barrier
Source: tradingview
Ethereum is trading between $4,165 and $4,791, showing a mixed pattern. While it has recently dipped over 8% in the past week, there's been a decent gain of almost 12% over the past month. With a strong six-month growth of over 53%, ETH is pushing toward its nearest resistance level at $5,105. If it manages to break past this, the $5,730 mark could be the next target. The current support stands at $3,853, providing a safety net for traders. As indicators fluctuate, investors are hopeful for a sustained upward trend, eyeing potential new highs in the upcoming months.
Conclusion
Ethereum’s recent pullback highlights the market’s sensitivity to large supply events, but its broader trajectory still shows resilience. With support levels holding near $3,850 and strong momentum over the past six months, ETH remains in a position to challenge its $5,100 resistance. If bulls succeed, a breakout toward $5,700 could follow, reaffirming Ethereum’s role as a key driver of the next leg in the crypto rally. For now, traders are balancing caution with optimism, watching closely to see if this dip transforms into another launchpad for growth.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
