The technical indicators suggest that Ethereum’s current consolidation may be the foundation for its next price increase. According to analysts, the similarity of the past movements and current ranges increases the probability of another rally.
Ethereum recently failed to sustain momentum above $4,500, declining below key support levels like $4,420 and $4,200, with temporary support around $4,000.
A possible downside may test between $3,900 and $4,100, with strong support at $4,000. On the upside, immediate resistance is at $4,220, with additional barriers placed at $4,300 and $4,500. Depending on the market situation, a breakout could send Ethereum to $6,000 or even Lee’s prediction of $15,000.
Moreover, Ethereum has been holding above the key support at around $4,000. This stability is an indicator of resilience that is important to market analysis. The current demand at this point supports the predictions that Ethereum may reach a new all-time high. Meanwhile, the momentum indicators show that buyers are still bullish, and investors are continuing to accumulate ETH, hoping that the price will rise again.
