Ethereum Approaches the $4,100 Threshold: Opportunity to Break Through to $7,000?
Ethereum is currently in an important consolidation phase with a head and shoulders pattern structure, suggesting potential breakout if it surpasses the $4,100 resistance. Strong support at $3,000 serves as a key psychological barrier, attracting traders seeking buying opportunities.
Key points to note:
1. Resistance $4,100: This is an important neckline that has been tested multiple times but has not yet been broken. A breakout above this level could trigger a strong upward move, with price targets predicted to reach $7,000 based on head and shoulders pattern measurements.
2. Support $3,000: Holding above this level is a positive signal, indicating strong buying pressure. A drop to the $2,900 area may provide an opportunity for cautious traders, but risk management is necessary with stop-loss orders between $2,700 and $2,500.
3. The importance of momentum and volume: A successful breakout through the $4,100 resistance will need to be supported by strong trading volume and positive momentum. Otherwise, Ethereum may continue to fluctuate within the current range.
4. Consolidation scenario: If it fails to break through resistance, ETH may continue to accumulate in the $3,000 - $4,100 range until clearer momentum emerges.
Traders need to closely monitor price volatility, particularly movements at key support and resistance levels, to seize potential breakout opportunities or plan risk management in the current tight market phase.