Ethereum rose 24% in just over a week, breaking through key resistance on bulky volume and signaling momentum was picking up again. With the bullish structure remaining intact, attention now turns to whether ETH can maintain its move towards the $4,956 target or pause for a while withdrawal First.
Ethereum Gains 24% Towards Resistance – Is a Crash Back to $2,150 Next?
After rapidly rising 24% over the last 8 days, ETH has reached a major resistance level and is showing signs of rejection. According to Max Trades, this vertical move occurred without any significant retracements, making a grace period very likely. A pullback at this stage is considered a well part of the market cycle to restore momentum.
The main target for a potential long entry is the $2,150 level, which previously acted as high resistance. The setup is further strengthened by technical convergence as this price point closely aligns with the key Fibonacci retracement level and is above the weekly open.
Currently, exponential moving averages (EMAs) are below the spot price, providing a lively cushion. This suggests that the broader trend remains intact despite the immediate need for a price correction. Risk management is defined by a clear invalidation point below the $2,080 support level that coincides with the Fibonacci gold pocket, a critical area that buyers must defend.
ETH Breaks Key Resistance on Volume – $4,956 Target Already in Play?
In updateKamile Uray noted that Ethereum broke above the pink resistance level on the chart on robust volume; this is a move that stands out from Bitcoin, which has yet to deliver a similar high-conviction breakout. The surge in volume adds credibility to the move, suggesting that bullish momentum is gaining strength.
From a lower time frame perspective, a sustained 4-hour close above $2,475 would be the first confirmation that the uptrend has room to continue. Holding above this zone can strengthen the breakout structure and signal that buyers will remain in control in the brief term.
The broader outlook remains bullish as long as Ethereum continues to defend the $1,916 low on the 4-hour horizon. Maintaining this level makes the market structure favorable for further growth within the current trend.
Uray also emphasized that the Libra pattern is still in play, with a target upside of close to $4,956. However, the $3,445 level stands out as key resistance on the way up, where a rejection could trigger a ephemeral pullback before continuing. On the other hand, the pattern will be invalidated if the price falls below the $1,388 level, marking a critical stopping point for a bullish scenario.
