Usman Salis
After weeks of getting rejected at $4,500, Ethereum finally broke through. This isn't just another fake-out - the move has real conviction behind it. The 4-hour chart tells the story: multiple failed attempts followed by a clean break that's now holding.
What the Charts Show
Analyst Ali called attention to this breakout, noting how ETH has flipped resistance into support.
The technical setup looks solid with these key levels:
- Breakout confirmed: $4,500 now acting as the new floor
- Immediate targets: $4,580 and $4,620 resistance zones
- Main objective: $4,725 based on the projected trend line
The pattern suggests ETH will climb in stages rather than one straight shot up. Each level should provide brief consolidation before the next push higher.
Why Ethereum's Moving Now
Several forces are aligning behind ETH's momentum. Institutional money keeps flowing in as more investment products launch. The broader crypto market is in a better mood with Bitcoin staying stable above key levels. Ethereum's fundamentals remain rock-solid too - the network dominates DeFi and NFTs while ongoing upgrades keep improving efficiency and scalability.
The path looks clear as long as $4,500 holds as support. Bulls are in control and have their sights set on $4,620 first, then the bigger prize at $4,725. A break below $4,500 would shift the narrative short-term, but the overall trend remains up. The breakout is real, and $4,700 is now very much in play.
Usman Salis
