Saad Ullah
Ethereum (ETH) has staged an impressive recovery, climbing 2.43% to reach $4,615.44 as buyers stepped in to defend crucial support levels. The second-largest cryptocurrency is now testing a pivotal resistance zone that could determine its next major move.
Bulls Target Descending Resistance Break
The recent bounce has brought ETH back to a critical juncture, with market momentum building as traders eye the next major breakout opportunity. This technical setup represents more than just a simple rebound – it's a test of whether bulls have enough strength to push through overhead resistance and establish a new uptrend.
Famous analyst highlighted this key moment in a recent post, noting how Ethereum is retesting the descending resistance line that has been capping upside moves.
The current price action suggests growing confidence among buyers, but the real test lies ahead.
What's Next for Ethereum Price?
Looking at the hourly timeframe on Coinbase, Ethereum faces immediate resistance in the $4,600-$4,650 range. A successful break above this zone could open the door for a move toward $4,800, with optimistic targets extending to the psychological $5,000 level.
However, the path isn't without risks. Should the current rally lose steam and ETH fails to maintain above $4,500, we could see a pullback toward the $4,300-$4,400 support cluster. This makes the coming hours crucial for determining whether this is the start of a sustained breakout or just another failed attempt at higher levels.
Saad Ullah
