Ethereum is entering a crucial phase this September, with the price consolidating after a dynamic rise. The market is holding its breath as every move around the $4,360–4,380 zone could determine its next major trend.
What's Happening?
After hitting highs near $4,950, #ETH has pulled back, sparking a battle between bulls and bears. On the 1-hour chart, small candle bodies and long wicks show the intense struggle for control.
Key Insights from the Charts:
Bull Flag Formation: On the 4-hour chart, Ethereum is forming a classic #BullFlag pattern. This suggests that after a strong rally, the asset is simply taking a breather before potentially continuing its upward momentum.
Institutional Strength: Despite the recent correction, institutional demand for ETH remains robust. In August, more than $1 billion flowed into Ethereum investment products, including ETFs, signaling strong structural support.
Whale Accumulation: The recent pullback from the $4,480–4,500 resistance was met with profit-taking, but it was not a panic sell-off. Whales continued to accumulate, indicating that the short-term target of $5,000 is still very much in play.
Two Paths Ahead:
Bullish Scenario: If the $4,360–4,380 support holds, fueled by continuous #InstitutionalFlow, we could see ETH re-test the $4,800–$5,100 resistance zone. Long-term targets near $8,000 and even $12,000 are being discussed.
Bearish Scenario: A decisive break below the $4,360 support could send Ethereum towards the next major defense zone around $4,100. Traders should watch this level closely for a potential reaction.
🔥 The Bottom Line: Ethereum is acting like a compressed spring, with pressure building. The question isn't if it will make a major move, but when and in which direction. Stay vigilant and manage your risks accordingly!
