Ethereum price is consolidating near its all-time high, with the monthly candle turning green. Market structure remains bullish as long as $3,900 support holds.
Summary
- Ethereum consolidates near all-time highs, showing strong bullish structure.
- $3,900 support is the critical level backed by confluence.
- Upside potential targets $5,000+ on continuation.
Ethereum (ETH) continues to trade with strength, maintaining consolidation at elevated levels near its all-time high. The latest monthly close has set the stage for further upside potential, as the chart reflects strong market structure and technical confluence. Investor flows reinforce this outlook, with Ethereum spot ETFs now drawing more capital than Bitcoin ETFs, signaling a broader shift in market preference. While a retest of lower support remains possible, Ethereum retains its bullish bias for higher price targets.
Ethereum key technical points
- Major Support at $3,900: Backed by bullish order block and 0.618 Fibonacci.
- Market Structure: Consecutive higher highs and higher lows confirm bullish momentum.
- Upside Target at $5,000+: First Fibonacci extension in focus on a breakout continuation.
Ethereum’s consolidation around its all-time high highlights underlying strength in the trend. Rather than facing heavy rejection, ETH has shown resilience by sustaining price near these levels while gradually building equilibrium on the monthly timeframe. This is a classic bullish sign, indicating that sellers have yet to regain control.
From a support perspective, the $3,900 level remains the key line in the sand. This zone aligns with multiple technical confluences, including the 0.618 Fibonacci retracement and a well-de
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Author: Aziz Zamani
