Key Insights
- •Ethereum flips $4,070 into support, signaling short-term strength and steady bullish control.
- •RSI and MACD confirm growing momentum as ETH trades between $4,070 and $4,250 levels.
- •Traders monitor CME gap near $4,000 and key resistance at $4,250 for next direction.
Ethereum is holding above the $4,070 level after breaking through it earlier this week. The move has drawn attention, as this level had acted as resistance in past sessions. With the price now staying above it, the market is treating $4,070 as support.
At the time of writing, Ethereum was trading at $4,128.81. Over the past 24 hours, it has moved down by 1%, while showing a 6.1% gain over the last seven days. Traders are now focusing on whether the price will attempt to retest the $4,250 area, which has recently acted as resistance.
Indicators Point to Steady Momentum
The daily chart shows a consistent trend of higher lows since early October. There has been no sharp reversal, and price action remains stable above the key support.
The MACD has crossed above the signal line, with the histogram now in green territory. This shift suggests momentum is picking up. The RSI is at 52.08, placing it just above neutral. It does not show signs of excess, which means there may still be room for further movement.
Market Watches CME Gap Near $4,000
A CME gap near the $4,000 level is also being tracked. This area formed due to price differences between trading sessions on the CME platform. Gaps like this often draw prices back to fill them before the next move begins.
The chart shows a green box marking this zone. ETH has not yet entered it but is trading close. If price moves lower, this area may offer support. If support holds, it could act as a launch point for another push higher.
Focus Shifts to $4,250 Level
The next major area in focus is $4,250. This level has capped recent moves, and some traders are looking at it as a short trigger if price fails again. Others may look to enter long positions if the price breaks above and holds.
As trader Lennaert Snyder posted:
“Watching ~$4,250 for shorts after the failure and longs after reclaiming.”
However, the price between $4,070 and $4,250 now defines the current range, and traders are closely watching how ETH behaves at both levels.