Ethereum Consolidates Near All-Time Highs. What’s Next?
Efirium continues to consolidate at elevated levels near its all-time high. The final close of the month set the stage for further gains for the altcoin, as the chart reflects a strong market structure.
The leading altcoin’s consolidation near its price record is an indication of the strength of the trend. Instead of facing strong resistance, ETH has shown resilience, holding near these levels and gradually regaining equilibrium on the monthly time frame. This is a classic bullish signal, indicating that sellers have not yet regained control.
In terms of support, the $3900 level remains the key line. This zone coincides with several technical levels, including the 0,618 Fibonacci retracement level and a clearly defined bullish order block. Even a correction to this support level will maintain the bullish market structure and set the stage for further gains.
While эфириум With support at $3900 holding, traders can expect continued movement towards the target zone above $5000. A retest and successful defense of this level would confirm the bullish sentiment and likely accelerate the move towards the next Fibonacci level.
