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

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.