Ethereum Breakout: Accumulate on Dips After $4,600 Surge
I see Ethereum breaking above $4,600 as a clear sign of renewed bullish momentum driven by stronger on‑chain activity and continued macro risk appetite. The breakout suggests buyers are willing to push prices higher after recent consolidation.
I remain cautious about short‑term volatility and potential profit‑taking; a sharp intraday pullback is possible even in a bullish regime. Key technical levels to watch are support around $4,200 and resistance near $5,000.
I would look to accumulate on confirmed dips rather than chasing the immediate breakout, size positions to your risk tolerance, and use stop levels to protect capital.
Analysis
Recommendation
Adopt a buy‑on‑weakness approach: accumulate into corrective dips (target $4,200–$4,000), set protective stops below key support, and take partial profits near resistance around $5,000.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.