Saad Ullah
After weeks of choppy sideways action, Ethereum has finally found its footing. The second-largest cryptocurrency has climbed back above several important exponential moving averages on the 4-hour chart, sparking renewed optimism among traders. Now all eyes are on $4,200—a crucial level that combines technical resistance with a dense volume cluster. If ETH can push through and hold above this zone, it could signal the start of a sustained uptrend. But if bulls fail here, a temporary pullback might be in the cards before the next attempt.
Multi-Layer Resistance at $4,200
According to technical analyst OASIS, Ethereum's 4-hour chart shows price consolidating just below $4,203, where the 200 EMA (around $4,103) intersects with a major volume node. This area has become the key battleground between buyers and sellers.
ETH recently reclaimed all major EMAs, which now act as stacked support levels:
- EMA 12: $4,081.9
- EMA 26: $4,012.8
- EMA 50: $3,984.2
- EMA 200: $4,103.2
As long as price holds above $4,000, the bullish structure stays intact. A clean 4-hour close above $4,203 would confirm the breakout and open the door toward $4,323 and potentially $4,451. However, rejection at resistance could push ETH back down to the $4,081–$4,012 zone, or even $3,984, before another rally attempt.
Technical Indicators Show Strength—With Caution
The indicators paint a mostly bullish picture, but with some warning signs:
- RSI (14): Sitting around 69.8, approaching overbought territory—momentum is strong, but a breather could be coming
- Stochastic RSI: Spiked above 90, signaling near-term overextension
- MACD (12/26): Firmly positive with widening momentum and no crossover in sight
- Volume Profile: Heavy concentration near $4,100, matching the liquidity zone shown on the chart
Bottom line: bulls are in control, but expect some volatility around resistance before any confirmed breakout.
Ethereum's recent bounce isn't happening in a vacuum. Improving crypto sentiment, rising Bitcoin ETF inflows, and excitement around upcoming network upgrades like EIP-4844 have all boosted investor confidence. Add in stabilizing gas fees and progress on scaling solutions, and Ethereum's fundamentals look solid—giving technical traders plenty of reason to stay optimistic.
Saad Ullah
