With key resistance now in view, Ethereum bulls are targeting $4,100.

Ethereum is again at the center of attention as it approaches that crucial $4,100 resistance. Bulls appear intent on regaining their lead and taking on the major hurdle head-on after being consistently in the green.Despite the fact that the level has been a resistance level to ETH in the past, price action has shown strength in buyers at the moment.

This surge itself traders are scrutinizing to see if it has the sort of muscle to push through the resistance and open the way to further upside as ETH continues to move up. Maybe the $4,100 level will be crucial for the Ethereum as the chances for the next important movement have never been higher. Can the bulls stand the heat?

Ethereum price is now within touching distance of the crucial resistance level of $4,100.

At the rate, trading of ETH above the 100-day SMA indicates a bullish outlook in the current market. After making a strong comeback around $3,670, the cryptocurrency has been rising steadily in strength and is now approaching the major resistance level of $4,100.

Ethereum

The critical level is nearing Ethereum due to rising buying pressure, which shows that market sentiment is now favorable to bulls. This is the reason why ETH is closely being watched since it's getting closer to the $4,100 level. If this is surpassed, then further upward movement will be supported, resulting in an upward rise.

Relative Strength Index (RSI) with 4 hours shows that the strength is indeed positive for Ethereum. Recovering from its all-time low of 53%, the RSI is currently showing 63%. This matters since the trend indicates a positive momentum, and there has been increased purchasing pressure lately.

It seems that the upward momentum of the RSI indicates that Ethereum is strengthening and may have a lot more to gain. So, if it can stay above key benchmarks, ETH can try breaking through the $4,100 resistance level.

The next bull run in Ethereum could be started by breaking above the $4,100 mark

A breakout above the $4,100 barrier mark could set off the next bull run for Ethereum. This level has long been a significant barrier in terms of both technological and psychological opposition to ETH. With the bulls being very much in control and poised to drive Ethereum to the $4,863 resistance level and beyond, a price break above $4,100 would signify a change in market dynamics.

It is worth noting that if $4,100 does not break, then there will be a downside move and a retreat to lower supports. A rejection at this critical level would raise questions about the sustainability of the bullish momentum of Ethereum and make traders reassess their position.

As Ethereum's market valuation sits at around $475 billion and its trading around about $3,947 as the price approaches significant resistance levels, a strong trading volume at about $30 billion in the last day indicates strong interest from investors as well as healthy market liquidity.

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