Ethereum price is testing the $4,240 support zone and must clear $4,500 to confirm a bullish breakout; otherwise ETH risks a slide toward $4,200 or $3,800. Institutional ETF inflows above $10 billion support upside, making the $4,240 level a decisive short-term pivot.
Ethereum price sits on $4,240 support — a break above $4,500 could trigger a strong rally.
Institutional inflows into Ethereum ETFs have exceeded $10 billion, adding upward pressure.
ETH shows a bullish pennant pattern, with a 24-hour gain of 1.76% and key weekly resistance at $4,500.
Ethereum price testing $4,240 support—break $4,500 to spark a rally. Read ETF inflow data and short-term trading outlook from COINOTAG.
What is Ethereum’s current price outlook?
Ethereum price is trading near $4,364 and is testing the important $4,240 support zone. If ETH breaks and holds above $4,500, the market could shift bullish and target $4,600+; if the $4,240 support fails, expect retests of $4,200 or lower to $3,800.
How could a breakout above $4,500 affect Ethereum?
A confirmed break above $4,500 would invalidate the short-term resistance and likely accelerate momentum. Technicals show a bullish pennant pattern that often precedes continued moves in trend direction. Traders use clear daily closes above $4,500 as confirmation for targets near $4,600–$4,800.
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Ethereum is testing key support at $4,240. Will it break $4,500 and rise higher, or will it drop?
Ethereum is at a crucial crossroads. With its price hovering around $4,300, traders are watching whether the $4,240 support will hold. A breakout above $4,500 would shift near-term momentum; a failure at $4,240 could produce deeper retracements.
The $4,240 zone has acted as short-term demand in recent sessions. It aligns with intraday volume clusters and prior swing lows, giving it structural importance. Sustained trade above $4,240 preserves the bullish pennant setup; a decisive break would target horizontal supports at $4,200 and $3,800.
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Source: https://en.coinotag.com/ethereum-tests-4240-support-as-break-above-4500-could-trigger-rally-amid-over-10-billion-etf-inflows/