Ethereum continues to show strength, currently trading around $4,670 as it edges closer to the midline of its ascending 0 market has maintained a steady recovery since late September, but signs of local exhaustion are beginning to appear, suggesting a potential short-term pullback before another push 1 Analysis By Shayan The Daily Chart On the daily timeframe, ETH remains firmly within its rising channel structure, supported by the 100-day moving average near $3,900 and the 200-day around $3,000. The price is approaching the $4,800 resistance zone, a key level that has repeatedly capped rallies over the past couple of 2 RSI has also climbed to 62, reflecting healthy momentum, though not yet overheated.
A breakout above $4,800 could open the path to testing the psychological $5,000 level and beyond, while failure to sustain current levels could lead to a retest of the lower boundary of the ascending channel and even the critical $4,000 demand zone, which would be crucial for the investors to hold to sustain the bull market.) has formed near $4,600, which could attract short-term retracement and support before continuation.
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