Ethereum Faces Crucial Test: Can Support Hold Against Potential Plunge?

After a recent dip, Ethereum has seen a notable rebound, increasing by 4.6% in the past 24 hours to reach its new all-time high of $4,600. This upward surge marks an important turning point for the leading altcoin as it prepares for what could be a major test for its long-term stability. Traders are bracing for potential volatility with analysts predicting price swings between $4,355 and $4,958. While initial dip buying helped fuel a recent uptrend, the momentum might soon plateau if conditions worsen.