Analysts: ETH may rise to $4,100 after a short-term pullback.

According to a report by Cointelegraph on January 16th, futures market trends indicate that ETH may have another 10% to 25% upside potential. However, before any sustained rebound can materialize, the market may first experience a price drop triggered by forced liquidations. Crypto analyst Pelin Ay points out a recurring structural pattern in Ethereum's leverage dynamics: when Binance's leverage ratio rapidly rises above the price, a brief downward shadow (lower shadow) appears, clearing out over-leveraged long positions, usually followed by a strong upward rebound. This pattern occurred multiple times in 2025, particularly in February, April, September, and November. A similar situation occurred in October, when a sharp rise in leverage triggered a sudden sell-off, after which the trend continued. Currently, Ethereum's leverage ratio is around 0.60, which is relatively high. Notably, despite the recent price increase, the leverage ratio has not decreased, indicating that market risk appetite remains. Based on current levels, a 25% rebound would push the price of ETH above $4,100, but a slight pullback remains highly probable.