Ethereum Holds $4,500 Support — Buy on Weakness Toward $7,500 Target
I see Ethereum holding the $4,500 support after a pullback from the $4,788 high, currently trading around $4,557 following a 3.88% decline.
Technical indicators suggest recent overbought conditions, but institutional optimism is keeping longer-term targets around $7,500 intact.
I remain cautiously bullish while watching the $4,500 support and momentum indicators for signs of a deeper correction.
Analysis
Recommendation
I would consider buying on weakness near the $4,500 support or holding existing positions, with stops below that level and size management to account for short-term overbought-induced swings.
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.