Ethereum (ETH) has started to show renewed bullish momentum as it climbs steadily above $4,650. After maintaining support above the $4,500 level, ETH has initiated a fresh upward move, signaling the possibility of higher gains in the coming sessions. Traders are now closely watching key resistance levels around $4,720 and $4,750 for confirmation of a sustained breakout.
The ongoing rally has Ethereum trading comfortably above the 100-hourly Simple Moving Average, indicating strong short-term bullish sentiment. A key trend line with support at $4,550 on the hourly chart is also helping to stabilize the price, providing a foundation for further upward moves.
Resistance Levels and Potential Breakouts
Ethereum has successfully surpassed the $4,500 and $4,620 resistance levels during the latest bullish push. The price briefly spiked toward $4,750, hitting a high of $4,759 before a minor correction. Analysts are now focusing on critical resistance levels that could define the next phase of the rally.
Immediate resistance lies near $4,720, followed closely by $4,750 and $4,780. If ETH can break above $4,780, the next key target is $4,840. A sustained move above $4,840 may open the door for further gains, potentially driving Ether toward $4,880 or even $4,920 in the near term.
Technical indicators suggest that buyers are defending support levels aggressively. This indicates a strong bullish bias, which could fuel continued upward momentum if demand remains high.
Support Levels to Watch
While the outlook remains bullish, Ethereum could experience a pullback if it fails to clear the $4,750 resistance. Initial support is located near $4,615, coinciding with the 50% Fibonacci retracement of the recent upward move from the swing low at $4,472 to the high at $4,759.
Further support lies at the $4,550 trend line, followed by $4,500 and $4,420 levels. The $4,350 mark acts as a significant lower boundary for ETH, providing strong downside protection in case of a deeper correction. Maintaining these support levels will be key for ETH to continue its upward trajectory toward the $5,000 psychological target.
Technical Indicators Point to Bullish Continuation
Ethereum’s hourly chart shows a clear bullish trend, with price action holding above crucial support zones and trend lines. The 100-hourly Simple Moving Average is providing an additional layer of stability, allowing buyers to maintain control.
Fibonacci retracement levels also indicate that any short-term pullbacks may be limited to the $4,615–$4,550 range, giving ETH room to consolidate before resuming its rally. Traders often view these levels as key zones for entering long positions with reduced risk.
Market Sentiment and Investor Outlook
Market sentiment for Ethereum remains strongly positive as traders anticipate further upside potential. ETH’s consolidation above $4,650 suggests that buyers are gaining confidence, especially amid broader crypto market optimism.
A breakout above $4,750 would not only confirm short-term bullish strength but also increase the likelihood of a more significant rally toward $5,000. Analysts expect that if Ethereum maintains momentum, the next major resistance levels may act as stepping stones toward a renewed all-time high.
Conclusion: Ethereum Eyeing $5,000
Ethereum’s current price action signals the potential for a major breakout if the coin can surpass key resistance zones. With support levels firmly holding and bullish indicators lining up, ETH appears poised for continued upward movement.
Traders should monitor the $4,720–$4,750 resistance range closely. A successful breakout above these levels could pave the way for Ethereum to test $4,840, $4,880, and ultimately aim for the psychological $5,000 mark.
While minor pullbacks remain possible, the overall trend suggests Ethereum is gathering steam for another leg in its ongoing rally. Investors and traders alike will be watching the charts closely as ETH attempts to sustain its upward momentum in the coming sessions.
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