Looking at the 4-hour time frame of Ethereum we can see that just like Bitcoin, it is at a crucial point heading into the new year.
Ethereum found its bottom with the scam wick along the $3,431 level and knocked out all of the over-leveraged longs from early entry prices. From this point on, Ethereum along with many altcoins, has been slowly accumulating and creating higher highs and higher lows.
Just last week, Ethereum finally regained the 2.618 Fibonacci level of support at $3,821 and closed out the support area bullish at $3,821 - $3,921. From here, it gained $4,003 as a level of support and is now headed towards flipping $4,161.
If we can see a flip of the $4,161 resistance into support, Ethereum is headed towards the $4,339 - $4,388 May 2021 ATH price targets for just short of a 10% play.