Ethereum Approaches Key Resistance at $4,100, Analysts Suggest Potential for Short Squeeze Toward $4,400–$4,500

Key Points

1. Ethereum is currently trading near $4,200, facing critical resistance at $4,100.

2. Historical data indicates $4,100 has been a significant resistance point, reversing price moves in March and December 2024.

3. A sustained close above $4,100 could lead to a rapid price increase towards $4,500 or higher.

4. Technical indicators show Ethereum is overbought (RSI at 71.97), suggesting a possible short-term pullback.

5. Key support levels are at $3,740 and $3,392, which could be tested if Ethereum fails to hold above $4,100.