Ethereum Holds Strong at $4,200 — Traders Eye Make or Break Movement For ETH
The post Ethereum Holds Strong at $4,200 — Traders Eye Make or Break Movement For ETH appeared first on Coinpedia Fintech News
Ethereum (ETH) is once again the center of attention in the crypto markets as it hovers around the $4,200 mark. Veteran trader Matthew Dixon has outlined possible scenarios for ETH’s next move. Backed by a detailed price chart, his post has sparked new discussions among traders who are trying to decode what comes next.
The Key Level: $4,200 Support
Unlike the usual hype-driven analysis often seen in crypto circles, Dixon’s approach carries the weight of years of financial trading experience. Dixon’s says that all eyes are on the $4,200–$4,150 zone. As long as this support holds, traders remain optimistic that Ethereum could extend its rally.
A defense of this range could fuel another retest of $4,580, and if buyers push through, the next leg higher could stretch toward $4,860–$4,950.
This move would align with the broader uptrend that began when ETH bounced from the $3,000 level earlier this year.
Room For ETH To Consolidate
If ETH doesn’t break higher immediately, a period of sideways action is also possible. Dixon pointed out that Ethereum may “chop” between $4,150 and $4,580, allowing the market to consolidate before making its next big move.
The Relative Strength Index (RSI), which measures momentum, is currently at 55, signaling neutral, neither overbought nor a clear trend signal.
The Risk Scenario
On the flip side, Dixon sees a loss of $4,150 could trigger a sharper drop. In that case, sellers may push ETH down toward the $3,850–$3,800 area.
A deeper dip could even test the $3,500 zone, which lines up with the 61.8% Fibonacci retracement level, a common area where buyers often step back in.
As of now, the ETH price is trading around $4205, reflecting a drop of 2.6% in the last 24 hours, with a market cap hitting $507 billion.
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