🚀 Ethereum’s Price Surge Ignites Market Frenzy – $4K Target in Sight

Ethereum isn't just climbing—it's rocketing past resistance levels like a bull on espresso. Traders who slept on ETH are now scrambling to catch the train.

Why $4K isn't a pipe dream:

The charts scream momentum. Every pullback gets swallowed by fresh bids, and derivatives markets are pricing in higher highs. Even the usual 'sell the news' crowd is hesitating.

Institutional FOMO meets DeFi summer 2.0:

Wall Street's latecomers are piling into ETH ETFs while degens double down on Layer 2 plays. The network's burning more gas than a Texas oil field—and price follows usage.

The cynical take:

Sure, the rally's beautiful—until some hedge fund manager 'discovers' leverage and turns this into a liquidation carnival. But for now? The trend's your friend (unless you're short).

Ethereum Price Gains Over 5%

Ethereum price started a fresh increase from the $3,650 support zone, beating Bitcoin. ETH price was able to recover above the $3,720 and $3,750 resistance levels.

The bulls even pushed the price above the $3,850 resistance zone. Finally, the price tested the $3,920 resistance zone. A high was formed at $3,927 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward MOVE from the $3,544 swing low to the $3,927 high.

Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $3,820 on the hourly chart of ETH/USD.

On the upside, the price could face resistance near the $3,920 level. The next key resistance is near the $3,950 level. The first major resistance is near the $4,000 level. A clear move above the $4,000 resistance might send the price toward the $4,220 resistance.

An upside break above the $4,220 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500 in the near term.

Are Dips Limited In ETH?

If ethereum fails to clear the $3,920 resistance, it could start a fresh decline. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,800 zone.

A clear move below the $3,800 support might push the price toward the $3,735 support. Any more losses might send the price toward the $3,680 support level in the near term. The next key support sits at $3,650.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,735

Major Resistance Level – $3,920