Ethereum is currently trading around $4,388, after bouncing from the major support zone near $4,200. The 45-minute chart shows that the market is interacting with several key supply and demand levels that could shape price action in the coming days.
Key Support and Resistance Levels
Main Support ($4,200 – $4,250):
This zone previously triggered a strong upward move and still acts as a solid base for buyers. The recent reaction confirms that demand remains active at this level.
First Resistance ($4,450 – $4,500):
This short-term supply zone could temporarily cap further gains. A decisive breakout above this level would open the way toward higher resistance zones.
Major Resistance ($4,700 – $4,800):
This is the primary supply ceiling on the chart. If broken, it would signal the potential for a stronger bullish continuation in the medium term.
Possible Scenarios
Bullish Scenario:
If Ethereum manages to break through the short-term resistance at $4,500, the next target would be the $4,700–$4,800 zone. A breakout here could spark renewed demand and launch a fresh bullish wave.
Bearish Scenario:
If the price fails to clear the $4,500 resistance, a pullback toward the $4,200 support is likely. A breakdown below this level could increase selling pressure and bring the $4,000 zone into play.
Conclusion
Given the recent bounce from support and the current chart structure, the probability of a short-term bullish continuation looks higher. However, the $4,500 and $4,700 resistances remain critical hurdles that traders should closely monitor.
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