Ethereum’s $4,200 Support Under Pressure: A Look at Short-Term Chart Signals

Ethereum is facing a critical juncture in its price chart. While navigating an upward channel structure, Ethereum recently tested the vital support level of $4,200. Currently, the price is consolidating around the middle line of this channel, prompting neutral indicators from analysts who highlight a crucial battle ahead. Shayan’s analysis reveals that the daily chart shows Ethereum exhibiting an ascending trend within a defined channel. Following a pullback at the upper boundary of this channel, Ethereum settled near the critical support of $4,200, aligning with both the daily order block and the channel’s midpoint.