Ethereum Bulls Defend $4,200 Support, Eyes on $4,800 Reclaim
Ethereum price faced rejection at the Supertrend resistance near $4,834, resulting in an 8.2% pullback to about $4,435. Bulls are defending the critical $4,200 support level to maintain the higher‐timeframe bullish structure. Holding $4,200 could set the stage for a reclaim of $4,800 and a subsequent test of $5,000. Key resistance now sits at $4,800–$4,834, while lower support ranges from $3,800 to $3,600 if sellers break below $4,200. On‐Balance Volume (OBV) remains intact, signaling that buying interest persists despite recent selling pressure. Traders should monitor price action and volume at the $4,200 zone, watch for a clear reclaim of $4,800 on rising volume to confirm renewed bullish momentum, or prepare risk management measures if the $4,200 support fails.
Neutral
While Ethereum’s rejection at the Supertrend level triggered a short-term pullback, the defense of the key $4,200 support and intact On-Balance Volume suggest buyers remain engaged. Historically, similar pullbacks that hold critical support zones have preceded renewed rallies toward higher resistance levels. A clear reclaim of $4,800 on strong volume would confirm bullish momentum, whereas a breakdown below $4,200 could lead to deeper retracements toward $3,800–$3,600. Given this balanced setup, the immediate impact is neutral: traders should watch these levels closely before positioning.