Ethereum’s Surge Above $4,200 Suggests Potential for Third Wave Rally Toward $5,600

Key Points

1. Ethereum broke the $4,000 psychological barrier, signaling strong bullish momentum.

2. The RSI indicates overbought conditions, which may lead to short-term corrections.

3. Key support is at $4,000, with potential retracement to $3,650 if breached.

4. Resistance levels are identified at $4,300–$4,350, with current price at $4,200.

5. A breakout above $4,200 suggests further price increases, with $5,600 as a potential target.