Ethereum’s $5K Surge Incoming: Why Traders Are FOMOing Into the Rally

Ethereum isn't just flirting with $5K—it's bulldozing toward it. The second-largest crypto by market cap has traders scrambling as bullish momentum builds. Here's why the smart money's piling in (and why the suits still don't get it).

The Technicals Don't Lie

Breaking key resistance levels with the subtlety of a bull in a china shop, ETH's chart paints a clear picture: this rally has legs. Liquidity pools are getting drained faster than a hedge fund's credibility after a market crash.

Institutional FOMO Meets DeFi Summer 2.0

Wall Street's late to the party as usual, but even the most conservative funds can't ignore ETH's fundamentals anymore. Meanwhile, DeFi degens are leveraging up like there's no tomorrow—which, given crypto's volatility, might be true.

The Cynic's Corner

Sure, $5K ETH sounds great until some whale dumps and the 'stable' in stablecoin becomes wishful thinking. But for now? The trend's your friend—until it bends.

Ethereum Price Rallies Further

Ethereum price started a fresh increase from the $4,180 support zone, beating Bitcoin. ETH price was able to climb above the $4,500 and $4,650 resistance levels.

The bulls even pushed the price above the $4,700 resistance zone. Finally, the price tested the $4,780 resistance zone. A high was formed at $4,782 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward MOVE from the $4,170 swing low to the $4,782 high.

Ethereum price is now trading above $4,700 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $4,480 on the hourly chart of ETH/USD.

On the upside, the price could face resistance near the $4,780 level. The next key resistance is near the $4,840 level. The first major resistance is near the $4,880 level. A clear move above the $4,880 resistance might send the price toward the $4,950 resistance.

An upside break above the $4,950 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $5,000 resistance zone or even $5,150 in the near term.

Are Dips Limited In ETH?

If ethereum fails to clear the $4,780 resistance, it could start a downside correction. Initial support on the downside is near the $4,700 level. The first major support sits near the $4,650 zone.

A clear move below the $4,650 support might push the price toward the $4,550 support. Any more losses might send the price toward the $4,480 support level in the near term. The next key support sits at $4,350.

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 – $4,650

Major Resistance Level – $4,780