Ethereum Bulls Lift ETH to $4,600 — Approaching Major Supply Zone and Resistance
I believe Ethereum (ETH) has climbed to about $4,600, driven by bullish momentum as on-chain and off-chain holders increase their positions. This inflow of holdings is supporting upward price pressure and signaling renewed demand for ETH.
However, I note that ETH is now approaching a historical supply zone, which typically attracts selling interest. Key resistance appears between $4,650 and $4,900, so traders should be aware that upside runs may slow or reverse in that band.
Risk management is essential for trading this move: I recommend position sizing, clear stop-losses, and planning profit-taking around the identified resistance levels to protect capital while participating in the rally.
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The AI 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.