Ethereum's Critical Support Level Thought to be $4,100 According to Leading Analytic, Posting a 15% Decline
Ethereum Breaks Above $4,100: A Step Closer to Old Highs
Ethereum (ETH) has recently broken the $4,100 resistance level, currently trading around $4,200, indicating a strong bullish momentum that could lead it to challenge its previous all-time high near $4,865.
This surge saw Ethereum briefly reach a price of $3,720 today, a 2.98% increase from yesterday's close. The break above $3,785 makes a run at $4,000 more plausible, according to analysts.
Ethereum's current first line of defense is around $3,650, with the 50-day moving average and recent swing lows aligning with the $3,500-$3,550 zone. If Ethereum breaks below $3,650, $3,500-$3,550 becomes the next potential support level.
Strong technical indicators, growing institutional interest, and a favorable macro environment are supporting this upward move. Ethereum's price is above key exponential moving averages (EMA20, EMA50, EMA100) with widening Bollinger Bands, suggesting rising volatility and buying pressure.
Ethereum has also established a higher-high trendline since early August, reinforcing its bullish structure. The breakout confirmation comes as Ethereum converted the $3,900–$4,100 resistance zone into support, an important technical base to launch another leg higher.
Significant short liquidations—over $200 million—have fueled recent rallies, amplifying buying momentum. Rising network activity and institutional inflows are also cited as catalysts.
Analyst Michaël van de Poppe states that Ethereum couldn't reach the $4,100 level but did grant a 15% correction. The focus of many in the charts community is currently on the level of $4,100 for Ethereum.
Recent Ethereum price forecasts suggest that if $4,100 is decisively cleared, it could lead to a return toward the old all-time high near $4,865. Clearing the $4,000 mark could make reaching the last $4,100-$4,150 barrier more likely.
The much-anticipated data-sharding upgrade EIP-4844 could bring rollup fees down, potentially contributing to Ethereum's long-term story. Broader market cues and the impact of EIP-4844 are feeding into Ethereum's longer-term outlook.
Bulls are currently defending recent gains in Ethereum, while bears are waiting for signs of weakness to pounce. Approximately $50 million worth of ETH was bought by whales according to on-chain data.
Some technicals, such as daily RSI, show bearish divergence, implying that short-term corrections might occur before Ethereum resumes its upward trend.
A technical analysis points to Ethereum still trading inside a long-term rising channel whose upper boundary corresponds to previous all-time highs around $4,865. A third "touch" of this channel could propel ETH towards targets as high as $20,000 in a more extended bull run scenario.
In summary, current analysis supports the view that Ethereum has broken the $4,100 resistance level and demonstrates strong momentum and technical setup to approach, and possibly surpass, its old high near $4,865 in the near term, though short-term pullbacks may occur.
- The recent surge in Ethereum's price has led to it trading around $4,200, a potential sign of a bullish momentum that could push it closer to its old highs near $4,865.
- The break above $4,100 was accompanied by significant short liquidations and rising network activity, factors that have amplified the buying momentum in Ethereum.
- After establishing a higher-high trendline since early August, Ethereum has converted the $3,900–$4,100 resistance zone into support, making a return toward the old all-time high more plausible.
- Whales are reported to have recently bought approximately $50 million worth of Ethereum, demonstrating their confidence in the cryptocurrency's short-term outlook.
