ETH’s next stop could be $4.1K, but this must happen first

Ethereum (ETH) is currently engaged in a tight consolidation pattern following recent market volatility. While the digital asset has shown resilience, holding the critical psychological support zone around $3,500, analysts are eyeing a significant upside move that could propel ETH back toward the $4,100 mark. This crucial target, however, remains contingent upon the successful breach of a key overhead resistance level.

The primary hurdle standing in the way of $4.1K is the resistance corridor situated between $3,850 and $3,920. This zone has acted as a strong supply barrier in recent weeks, causing several failed breakout attempts. For the bullish thesis to materialize, ETH buyers must not only push the price above $3,920 but also secure a daily candle close above this level to confirm the breakout momentum.

If Ethereum successfully confirms the breakout above $3,920, the path of least resistance immediately targets the next major psychological milestone near $4,100. Sustained momentum following that breach could quickly set sights on retesting the all-time high zone near $4,800. Failure to breach this critical resistance, however, would likely send ETH back toward its primary support levels, risking a retest of $3,500 and potentially the deeper support at $3,200.

Source: ETH’s next stop could be $4.1K, but this must happen first