Ethereum Primed for Explosive Breakout: On-Chain Data Targets $4,800 in Near-Term Rally

Ethereum's price action is coiled like a spring—and on-chain metrics suggest it's ready to snap upward. Analysts are eyeing a swift march toward $4,800 if key resistance levels crumble.

The Bull Case in Binary

Network activity and whale accumulation patterns mirror pre-pump behavior from previous cycles. Liquidity pools are primed for a volatile move—likely north.

Short-Term vs. Long Game

While the $4,800 target hinges on breaking immediate resistance, skeptics note Ethereum's habit of shaking out weak hands before rallies (and Wall Street's knack for 'discovering' crypto right at cycle tops).

Active addresses and exchange outflows don't lie—but whether this becomes another 'buy the rumor, sell the news' event depends on if traders actually take profits this time. Spoiler: They never do.

Why ETH Price Could Be Heading Next For $4,800

In a Quicktake post on the CryptoQuant platform, CryptoOnchain revealed that the ethereum price might be eyeing a breakout above a key psychological and technical resistance. According to the pundit’s technical analyst, the altcoin would need a sustained breach above this region if it is to retest its all-time-high price.

Expanding on this technical hypothesis, CryptoOnchain shared that the Ethereum price is within the green zone between $4,000 and $4,400 (from the chart above), which represents a multi-year resistance range with significant historical selling pressure. Nevertheless, the analyst noted that the Moving average convergence/divergence (MACD) indicator has flipped positive, signaling the continuation of bullish momentum.

From an on-chain perspective, CryptoOnchain highlighted that the Ethereum price could be at risk of selling pressure, as the MVRV (Market Value to Realized Value) indicator is nearing its upper historical ranges. The other on-chain metrics, however, suggest the investors are not in profit-taking or euphoria mode—despite the widespread profitability in the market.

Notably, the Net Unrealized Profit/Loss (NUPL) metric—which tracks the overall profit and loss status of crypto investors—is in a high, positive region. While the metric signals that the ETH investors are broadly in profit, it also clarifies that the Ethereum price is not yet overheated.

CryptoOnchain concluded that a strong break above the $4,400 level could open the door for a run to $4,800 for the Ethereum price in the short term. The on-chain analyst added that the Ethereum market has yet to reach an overheated state, which suggests room for further upside movements in the medium term.

Ethereum Price At A Glance

As of this writing, the price of ETH sits at around $4,270, reflecting an almost 6% increase in the past 24 hours.