Ethereum is flashing strong technical signals that suggest further upside, with analysts now eyeing $4,200 as the next key target.
Trader Merlijn The Trader highlights a fresh Golden Cross on the daily chart—an event that last preceded a 63% surge in ETH. He notes the current setup appears “even stronger.”
Meanwhile, Titan of Crypto points to a broadening wedge pattern forming on the weekly chart. ETH is climbing within this structure, with the upper resistance line projected near the $4,200 mark.
Options Flow Shows Bullish Bias
On-chain data backs up the technical setups. According to Glassnode, Ethereum options activity has turned decisively bullish.
The Put/Call open interest ratio has dropped to 0.43, while the volume ratio sits at 0.63. These levels indicate rising demand for upside exposure, with more traders betting on ETH gains than downside protection.
Sentiment and Structure Align
With chart patterns, moving averages, and derivatives positioning all leaning bullish, Ethereum appears primed for a continuation move. If current momentum holds, breaking through resistance could trigger a strong rally toward the $4,200 level in the coming weeks.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/ethereum-eyes-4200-as-bullish-signals-and-golden-cross-align/