Ethereum Retests Support and Eyes Higher ObjectivesETH price action has recently pivoted from key daily support, maintaining the broader uptrend. With structure intact and value area high reclaimed, buyers continue to show dominance.
Key Technical Points:
- Daily support at $4,600 has held.
- Value area high reclaimed as support.
- Potential upside target sits at $4,950.
The $4,600 level has proven to be a crucial foundation for Ethereum. After multiple tests, this region continues to hold as buyers defend it, creating conditions for a push higher. The bounce coincided with a reclaim of the value area high of the current range, a technical signal that suggests acceptance above prior supply.
Price structure remains bullish, with ETH printing consecutive higher highs and higher lows. This reflects healthy market dynamics and increasing demand. Importantly, each consolidation has been absorbed efficiently, leaving ETH primed for continuation.
If momentum persists, the $4,950 level is the next logical target. This region represents not just a technical objective but also an area where previous sellers might attempt to defend.
What to Expect in the Coming Price Action:
As long as ETH trades above $4,600, buyers retain control. Continuation toward $4,950 remains probable, with invalidation only if $4,600 breaks on strong volume.
