ETH Bulls Waiting for Confirmation Before Next Leg Up

[m_c_jacob]

After a fresh test of the 4800 zone in mid-September, ETH started to decline, with the selloff accelerating after September 22nd, in line with the broader crypto market weakness.

The drop broke below the 4100 technical support and even under the psychological 4K mark, sending price as low as 3850.

Yesterday, however, ETH managed to recover part of the losses and climbed back above 4K, a positive sign for the bulls.

From a structural point of view, the overall trend remains strongly bullish, and I see this move as nothing more than a correction and a hunt for liquidity at lower levels.

Trading Outlook:
• In the coming days, I expect ETH to reclaim the 4100 zone, turning the breakdown into a false break.
• If that happens, the door opens for upside continuation, with potential to retest 4500 and even challenge the 4800 resistance again.
• For now, I remain on the sidelines, waiting for confirmation before taking a new position.