Peter Smith
Ethereum's price action is grabbing attention as traders watch for signs of the next big move. With ETH trading just under $4,000, the market seems to be setting up for its next decisive push, potentially toward the $6,000 range if support continues to hold.
Technical Setup Points to Continued Strength
According to Brain2jene, a crypto analyst recognized for straightforward technical analysis, the "#ETH path is clear." His recent chart shows Ethereum holding above a long-term upward trendline—a pattern that often comes before strong rallies. The weekly chart reveals Ethereum staying within a bullish channel, respecting both its ascending trendline (traced back to 2023 lows) and the 20-week moving average. Despite a recent 5% dip, the overall trend looks intact. Three key levels stand out:
- Support at $3,600–$3,700: This is where the upward trendline meets a former breakout level—a critical zone where buyers have been stepping in.
- Resistance around $4,200–$4,250: ETH has repeatedly hit a ceiling here in recent weeks, making this the next hurdle to clear.
- Target zone of $5,600–$6,000: Marked by a purple box on the chart, this represents where price could head if resistance breaks and momentum picks back up.
The structure suggests ETH is simply pulling back within a healthy correction—not reversing. The 20-week moving average has historically been a reliable gauge of medium-term trends, and Ethereum just bounced off it, signaling that buyers are defending the line. In past cycles, these kinds of bounces have often preceded solid rallies. The chart's dotted arrow projects a move from current levels near $3,950 up toward that $5,500–$6,000 zone—as long as ETH keeps closing above $3,600 each week.
Strong Fundamentals Back the Bullish Outlook
Beyond the technicals, Ethereum's fundamentals remain solid. Staking continues to grow, locking up supply. Layer-2 platforms like Arbitrum and Base are driving activity across the ecosystem. And with Bitcoin stabilizing after its halving, capital is rotating into altcoins—with ETH catching a bid from renewed confidence. All of this supports @brain2jene's view that Ethereum's path looks clear—and it's pointing up, provided the key supports stay in place.
Peter Smith
