Peter Smith
Ethereum (ETH) has bounced back nicely from its recent dip, climbing back above $4,400 and settling around the $4,500 mark. The rally has traders wondering if ETH has enough steam to push toward $4,800 - a critical resistance that's been capping price action for weeks now.
Chart Breakdown
Right now, ETH is sitting at $4,499 after touching a daily high of $4,591 and dipping as low as $4,436. The key support zone to watch is down near $4,076, where Ethereum bounced hard after briefly testing below $4,000. On the upside, there's immediate resistance around $4,684, but the real battle is at $4,804–$4,956. Breaking cleanly through that range would likely send ETH toward the psychologically important $5,000 level.
According to crypto analyst Crypto Zeybek, the momentum indicator is showing an RSI of 69, which means we're getting close to overbought territory.
That tells us buying pressure is strong, but it also raises the possibility of a pullback if bulls lose steam. Trading volume has picked up significantly, confirming that both retail and institutional players are actively involved.
Market Environment
Ethereum's strength is part of a broader positive trend across crypto markets. As the backbone of DeFi, NFTs, and smart contracts, ETH continues to draw attention from investors. There's also ongoing buzz around scalability improvements and layer-2 solutions, which adds fuel to the long-term bullish case, even if short-term price swings keep things interesting.
What's Next
If Ethereum can hold above $4,450, we'll likely see bulls make another run at the $4,800–$5,000 range. But if support falters, a pullback toward $4,300 or even $4,076 isn't out of the question.
Peter Smith
