- Ethereum trades at $4,411, holding above key resistance and signaling strength.
- $4,800 remains critical resistance; $3,800 may act as short-term support.
- ETH’s price action mirrors 2017 & 2021 cycles, projecting a move to $7K.
Ethereum is gaining strong momentum as it robustly exits a several-year consolidation range, currently trading at a decisive point of $4,411. This action is a fundamental change of market feeling because such an asset now aims at the psychological level of $5000. Weather trends of 2017 and the recent 2021 indicate a similar set-up that saw euphoric rallies indicating that ETH could be going into a new stage of accelerated growth.
Having previously been resisted at the $4,800, it may now be worth breaking through as a consistent breakout would carve the way to the $7,000. The prevailing form indicates a robust base and is backed by a long-term build-up and fresh optimistic belief within the crypto market.
ETH Price Action Signals Breakout Toward $7K
The ETH current trading value is at $4,411, and it is firm above the past resistance with an indication of strength. The Ethereum price has bursted out of a multi-year consolidation area, which opens the way to the next psychological test at $5,000.
Historically, these breaks following extended accumulation cycles have predetermined fast expansions bolstering the overall bullish argument. But the chart also indicates that resistance is strong around the $4,800 mark where resistance has been experienced.
A position above this would validate newfound faith whereas declines may revisit short term support of $3,800. The given direction illustrates a cyclical trend similar to 2017 and 2021, in which euphoric rallies were preceded by long resets.
Thus, the trend is pointing towards the fact that Ethereum might have reached a similar stage of vertical development. In case the history is rhyming, ETH price might take off as soon as the breakout is reached, and this is consistent with the long-term Ethereum price projections which are indicating a run to $7,000.
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