Ethereum Price Eyes Upside Continuation: Bulls Gearing Up for Major Breakout

ETHEREUM BULLS CHARGE TOWARD FRESH UPSIDE MOVE

Market momentum builds as Ethereum positions for another leg up

Traders are accumulating positions ahead of anticipated breakout patterns. The technical setup suggests growing institutional interest despite traditional finance's continued skepticism about 'internet money.'

Volume patterns indicate smart money positioning for what could be the next significant move upward. Options flow and futures data support the bullish thesis—though anyone who's seen crypto volatility knows tomorrow could bring entirely different headlines.

Watch for key resistance levels to break as the bulls prepare their next assault. Because nothing says 'stable investment' like digital assets that can swing 20% before your latte gets cold.

Ethereum Price Corrects Losses

Ethereum price traded to a new all-time high above the $4,950 level before there was a downside correction, unlike Bitcoin. ETH price started a downside correction below the $4,650 and $4,550 levels.

The price tested the $4,320 zone. A low was formed at $4,310 and the price started a fresh upward move. There was a break above $4,400 and $4,450. The price surpassed the 23.6% Fib retracement level of the recent decline from the $4,956 swing high to the $4,310 low.

Besides, there was a break above a key bearish trend line with resistance at $4,450 on the hourly chart of ETH/USD. ethereum price is now trading near $4,580 and the 100-hourly Simple Moving Average.

On the upside, the price could face resistance NEAR the $4,630 level and the 50% Fib retracement level of the recent decline from the $4,956 swing high to the $4,310 low. The next key resistance is near the $4,650 level. The first major resistance is near the $4,720 level.

A clear move above the $4,720 resistance might send the price toward the $4,840 resistance. An upside break above the $4,840 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,950 resistance zone or even $5,000 in the near term.

Another Drop In ETH?

If ethereum fails to clear the $4,630 resistance, it could continue to move down. Initial support on the downside is near the $4,500 level. The first major support sits near the $4,450 zone.

A clear move below the $4,450 support might push the price toward the $4,320 support. Any more losses might send the price toward the $4,220 support level in the near term. The next key support sits at $4,150.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

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

Major Support Level – $4,450

Major Resistance Level – $4,630