Ethereum Outlook Remains Neutral as Analyst Eyes $4,220 by 2026
- Ethereum RSI at 48.80 showing neutral market momentum
- The coin declined 3% and lost the $3,000 support level
- Captain Faibik forecasts $4,220 price target by January following trendline break
Ethereum lost the $3,000 threshold again, following a 3% drop over 24 hours. Market analyst Captain Faibik predicts a potential breakout to $4,220 by January despite neutral momentum indicators.
Technical Indicators Signal Neutral Market Conditions
The Relative Strength Index stands at 48.80, placing Ethereum in neither overbought nor oversold territory. This reading suggests balanced market conditions without clear directional bias. The ChandeMO indicator measures -15.91, confirming the absence of strong bullish or bearish momentum currently.
Immediate support sits around $2,950, aligning with recent candle lower wicks. This level has provided a floor during the consolidation period. The RSI position just below 50 indicates momentum could shift in either direction based on buying or selling pressure that develops.
Resistance exists at $3,170 with additional overhead at $3,200. Breaking above these levels could signal further upside potential for Ethereum.
Captain Faibik’s technical analysis focuses on a multi-month trendline that Ethereum currently tests. The chart displays a series of lower highs and price declines leading to this critical trendline encounter. The analyst suggests ETH could break through this resistance zone in coming weeks.
A successful trendline breakout would establish conditions for a rally toward the $4,220 target by January. This projection represents approximately 39% upside from current price levels. The forecast assumes Ethereum maintains support above $3,000 while accumulating momentum for the resistance breach.
The short-term consolidation pattern may be establishing a base for the projected move higher. Recent pullbacks have not broken key support structures, suggesting accumulation rather than distribution phase. Market-wide corrections have contributed to the temporary weakness in Ethereum’s performance metrics.
Whether Ethereum achieves the $4,220 target depends on breaking the multi-month trendline resistance and sustaining momentum above the $3,200 level through year-end trading sessions.
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