Ethereum Faces Uncertainty: Will $4,200 Hold Key to Avoiding Further Losses?

Despite earlier bullish momentum, Ethereum’s price action has been stagnant, with a descending channel acting as a formidable barrier for potential upside. While it briefly touched the $4,200 resistance, failing to break through, traders are now focused on whether ETH can establish a new higher low or face further declines below the critical $3.5K level. 🔎 An analysis by Shayan reveals that price action remains constrained within this descending channel.