Peter Smith
The cryptocurrency market is buzzing with anticipation as Ethereum shows renewed strength, trading near multi-month highs and setting the stage for what could be a historic push toward the $5,000 price level. With strong technical momentum building and institutional interest growing, ETH appears primed for its next major leg up.
ETH Builds Steam Above Critical Support
Ethereum is currently changing hands at $4,789.12, marking a solid 1.01% gain over the past 24 hours. The trading range has been relatively tight, with ETH finding support around $4,690.72 and testing highs near $4,817.40. Volume remains robust at 383,132 ETH (approximately $1.82 billion USDT), suggesting genuine buying interest rather than speculative froth.
Market analyst @AFx_Crypto recently highlighted an attractive entry zone between $4,770-$4,790, with a sensible stop-loss positioned at $4,690.
This setup reflects the cautious optimism many traders are feeling as Ethereum consolidates before its next potential breakout.
Technical Picture Points Higher
The path forward looks increasingly clear for Ethereum bulls. Key resistance levels to watch include $4,850, $4,920, and the psychologically important $5,050 mark. Breaking above $4,850 could act as the catalyst that sends ETH racing toward the coveted $5,000 milestone.
What's particularly encouraging is how ETH is trading relative to its moving averages. The price sits comfortably above the 7-day MA at $4,785.46, the 25-day MA at $4,783.09, and the longer-term 99-day MA at $4,749.20. This alignment suggests the underlying trend remains healthy, with buyers stepping in on any meaningful dips.
The convergence of technical strength, solid volume, and strategic positioning by experienced traders creates a compelling case for continued upside momentum in the near term.
Peter Smith
