Ethereum News Today: Ethereum's $4,100 Make-or-Break Moment: Bulls and Bears Clash

Ethereum (ETH) has rebounded near the $4,100 support level, sparking debate among analysts about whether the cryptocurrency is poised for a short-term rally or faces further consolidation. The price action has formed a double-bottom pattern on the 4-hour chart, with both lows clustering around $3,713 and a neckline at $4,100 acting as a critical resistance zone, a Crypto.News report notes. A successful breakout above this level could propel ETH toward $4,491, a 10% gain from current levels, according to technical analysts. However, bearish indicators such as a flattening EMA ribbon and bearish divergences in the RSI suggest lingering uncertainty, a Benzinga analysis warns.

The recent price action reflects a tug-of-war between bulls and bears. On the 2-hour chart, Ethereum has been consolidating within a symmetrical triangle capped by resistance between $4,200 and $4,250—a zone that has already rejected price once. Immediate support levels at $4,064 (100-EMA) and $4,020 (50-EMA) are now critical; a close below these could expose $3,900, a key demand zone that held firm earlier this month, Benzinga noted. Meanwhile, on-chain data shows muted flows, with Ethereum recording outflows of nearly $7 million on October 28, signaling reduced institutional participation, the Benzinga piece added.

Long-term optimism persists despite near-term volatility. Analyst Ali Martinez has projected a multiyear trajectory for ETH, envisioning a path to $10,000 by 2027–2028, albeit with a cautionary note that major resistance levels must be cleared first, according to a Yahoo Finance report. This bullish outlook is supported by on-chain activity, as "whales and sharks" holding 100–10,000 ETH have repurchased roughly one-sixth of coins sold between October 5–16, signaling improving confidence among larger accounts, the Yahoo piece observed. However, such scenarios remain contingent on ETH overcoming its immediate hurdles.

The coming days will test Ethereum's resolve. A clean break above $4,000—a level that saw a 188% surge in trading volume during a failed push earlier this week—could reignite momentum toward $4,100 and beyond, the Yahoo article noted. Conversely, a loss of the $3,930 support level would likely send price toward $3,870–$3,880, per CoinDesk Research's model. The double-bottom pattern's neckline at $4,100 is also a focal point: holding this level could validate a bullish reversal, while a breakdown would reinforce bearish bias toward $3,700, the Crypto.News piece adds.

Macro factors could further complicate the outlook. With the Federal Reserve's monetary policy decisions looming, any easing of macroeconomic pressures might trigger a relief rally, allowing ETH to retest $4,500, Benzinga observed. Yet, until on-chain conviction strengthens or technical patterns resolve decisively, Ethereum's trajectory remains precarious. Traders will closely watch liquidity clusters between $4,100–$4,200, where a potential short squeeze could amplify upward moves—or conversely, a breakdown below $3,900 could expose the token to sharper declines.