Ethereum (ETH) Price Analysis: Bulls Target Previous All-Time High After $4,000 Breakout

Ethereum is trading near $4,200 and is maintaining strong bullish momentum in the short term. The price has been moving steadily higher, and after breaking above the $4,000 level, as discussed in our previous analysis, it is now aiming for the next major target at $4,850, which marks its previous all-time high. Bitcoin is struggling once again on the lower timeframes, yet Ethereum continues to hold its ground, indicating that altcoins are starting to gain momentum. Let’s look at the latest Ethereum charts to see where the price could be headed next.

Analyzing the Charts

On the 4-hour chart, we can see that Ethereum gained strong momentum after breaking above resistance at $3,900. The rally has since paused, with the price consolidating just below the $4,350 level. This area is now acting as resistance, and a sustained move above it could trigger the next breakout for Ethereum, keeping the current Ethereum price prediction scenario intact.

The next key level to watch for Ethereum is $4,850, which marks its previous all-time high. This zone is likely to act as strong resistance when tested. If the price approaches it with steady momentum and strong trading volume, there is a good chance it could break through, opening the way for a move toward the $5,000 mark in the short term.

On the daily timeframe, the $4,350 resistance is also keeping Ethereum’s price capped. Even so, the broader trend remains bullish, with the price recently breaking above a key resistance around the $3,900 zone that had previously held it back. In past market moves, Ethereum has followed a pattern of consolidation, a brief correction, and then a breakout. The current price structure appears similar, suggesting that if the pattern repeats, ETH could revisit the $4,850 region and potentially push toward $5,000.

It is also important to note that Bitcoin is once again trading below $120,000. If BTC moves lower, Ethereum could face a period of consolidation or even a short-term decline. In that case, the market may slow down for a few days, although the upside targets would remain the same as ETH continues to carry strong momentum.

Final Takeaway: What is Next for Ethereum (ETH)?

Ethereum is trading around the $4,200 region and is showing strong momentum in the short term. The $4,350 level is acting as resistance for now, but a break above it could open the way toward the $4,850 region. This area will be a key test as it marks the previous all-time high. While Bitcoin’s movement could cause short-term slowdowns, the momentum remains with ETH, and the targets toward $4,850 and possibly $5,000 are still in play.