Ethereum News: ETH Wakes Up After Weeks of Consolidation
After weeks of sideways trading and false starts, $Ethereum has roared back to life with a sharp rally. The second-largest cryptocurrency by market cap surged 12.47% in a single move, sending ETH to $4,752. Traders are now focused on one crucial level: the $4,800 breakout zone—a threshold that could trigger historic price discovery.
Ethereum price over the past 24 hours – TradingView
This sudden rally has reignited bullish sentiment across the crypto market, with many asking if this is the breakout they’ve been waiting for.
ETH Price Surges Toward Price Discovery
Ethereum’s surge wasn’t just another bounce—it was a calculated breakout.
- Daily Performance: $ETH rocketed nearly 12.5%, leaving bears scrambling and bulls emboldened.
- Support Defense: The rally followed a strong defense of the $4,200 weekly support level, a line that proved critical in preventing deeper losses.
- Momentum Shift: The rally highlights ETH’s resilience and ability to claw back from recent lows, setting up for a push into uncharted territory.
Ethereum Price Prediction: ETH Breaks Out of Downtrend
Looking at the 2H chart:
- Downtrend Broken: ETH smashed through a descending resistance line, confirming a bullish breakout pattern.
- Support Levels: Strong support sits at $4,356 and $4,200. Holding these zones will be key for sustaining upside momentum.
- Resistance Levels: ETH is now pressing against $4,800, the final hurdle before a clean run toward $5,000.
ETH/USD 2-hours chart – TradingView
Indicators:
- RSI surged to 81, signaling overbought conditions, though this is common during strong breakouts.
- Both the 50 SMA and 200 SMA around $4,285 are acting as a solid base of support.
Ethereum Price Prediction: $5,000 in Sight
With the breakout confirmed and momentum accelerating, Ethereum looks poised to challenge the $5,000 level in the near term. A decisive close above $4,800 would open the door to new all-time highs and historic price discovery.
- Bullish Case: If ETH clears $4,800, the $5,000 mark could be reached quickly, potentially triggering FOMO-driven buying.
- Bearish Risk: Failure to break $4,800 could see ETH retrace to $4,356 or even back toward $4,200 before attempting another breakout.
For now, the bulls are firmly in control, and the excitement surrounding Ethereum’s potential to hit $5,000 is building fast.
