Ethereum Price Could Surge To $6,400 With New Bullish Wave, But There’s A Problem

Ethereum's next bull run faces critical resistance despite promising technical indicators pointing toward the $6,400 target.

The Setup

Momentum builds as ETH breaks through key resistance levels, with trading volume surging 40% in the past week alone. Institutional inflows hit their highest point since the last cycle peak, while DeFi protocols see TVL climbing back toward previous highs.

The Problem

Network congestion threatens to derail the rally just as gas fees spike 200% during peak hours. Layer-2 solutions struggle to keep pace with demand while Ethereum's transition proof-of-stake faces another delay—because when has crypto ever stuck to a timeline?

Market Mechanics

Options traders pile into call positions with $6,400 strikes for December expiry, creating massive gamma exposure that could amplify moves in either direction. Short interest builds at the $5,800 level, setting up a classic battle between bulls and bears.

Meanwhile, traditional finance veterans watch from the sidelines, muttering about 'irrational exuberance' while secretly checking their portfolios every five minutes. The $6,400 target remains within reach—if Ethereum can solve its scaling issues before the next market tantrum.

Betting On Ethereum Price To Cross $6,000

Crypto analyst HAMED_AZ has highlighted that the ethereum price could be getting ready to rally again. This comes as the second-largest cryptocurrency by market cap has been trading between levels that have served as major support and resistance, failing to properly break above $4,500, which is the major level of interest at this point.

Given this tight price performance, the crypto analyst believes that this could lead to a short-term correction. This correction would take the Ethereum price toward the ascending trendline, putting the next major support from such a correction just above the $3,600 level.

However, once this correction is over and support is established, then the next course of action is for the ethereum price to rebound. Following the ascending trendline would put it on a bullish path, and the resulting breakout will be what triggers the next bullish wave.

Going by the target laid out by the crypto analyst, the Ethereum price would be looking at an over 50% increase from here. This would put it as high as $6,400, which would follow the ascending trendline, with the first major resistance lying at around $5,000.

Bears Are Still Watching

Amid the rising bullish signals lie a chance that the bears could still grab hold of the Ethereum price, and that lies just at the support targeted with the trendline correction. The $3,500 serves as the salvation support that could confirm the 50% rally above $6,000. However, it is also the level where the bears could reclaim control.

The crypto analyst highlights that the Ethereum price must not close a daily candle below $3,500. This is because if it does this, then it would invalidate the entire bullish scenario, leading to a much deeper correction that could see it fill the wick from the flash crash.