ETH faces consolidation as bulls defend key support levels
Ethereum (ETH) briefly surged past the $4,600 resistance level before facing selling pressure that pulled the price back toward the $4,480 zone. The move highlights ongoing volatility as traders assess whether ETH can sustain its momentum after a strong rally in recent sessions.
At press time, ETH is trading around $4,483, down nearly 0.7% on the day. The retracement comes after a rapid climb from the $3,800 support area, a zone that had previously acted as a springboard for buyers.
“This type of pullback is typical after a breakout,” said BITX market analyst. “Ethereum still looks technically strong as long as it stays above $4,400, but it needs a clean close above $4,600 to confirm continuation.”
Technical Picture
- Immediate resistance: $4,600 – $4,620
- Support zones: $4,400 and $4,050
- Trend outlook: Bullish but facing short-term consolidation
The chart indicates that ETH created a “weak high” near $4,900–$5,000, an area that could be retested if buyers regain control. For now, traders are closely watching the green support zones between $4,050 and $4,400, where demand has consistently stepped in.
Ethereum’s latest move reflects broader optimism in the crypto market, though traders remain cautious. “The rally has been impressive, but we’re seeing profit-taking near major resistance,” According to BITX strategists. “If $4,400 holds, the bullish trend remains intact, with potential to challenge $4,800 in the coming weeks.”
Despite the pullback, Ethereum’s higher lows and strong recovery structure suggest that buyers are still in control of the larger trend. However, a decisive break below $4,050 could trigger a deeper correction.
Ethereum’s breakout above $4,600 shows strong demand, but the current retracement highlights the importance of consolidation before the next leg higher. As long as ETH holds above $4,400, analysts believe the path toward $4,800 and beyond remains open.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.