- Ethereum is trading at around ~$4,208, having driven upwards starting at ~$2,400, to try and push the $4,000 to $4,400 resistance level, with good volume in the market.
- On-chain metrics reveal majority of the holders are in profit, there is little selling pressure, and there is a growing realized price, indicating further capital influx into the system
- The short-term triggers that analysts monitor are the levels of $4,150 and $4,350; a breakout above $4,400 can open the gate to $4,800.
Ethereum is nearing some resistance at $4400, and a breakout at this indicator will result in a retracement and even new all-time highs.
Technical Setup Suggests Potential Move Above $4,400
On the Renko chart (1% LTP), Ethereum has rallied from around $2,400 to approximately $4,190. The asset is now testing the $4,000–$4,400 zone, a multi-year resistance area with historical selling pressure.
A decisive breakout and a daily or weekly close above $4,400 could create an opening toward retesting the all-time high near $4,800. The green resistance band is viewed as a key technical threshold that may determine Ethereum’s short-term trajectory.
The MACD histogram has turned positive and is still growing larger, confirming further bullish momentum. If Ethereum closes the daily or weekly candles above $4,400, we may be able to navigate with an unbroken path to around $4,800.
Market analysts are calling for sustained buying pressure to cause a breakout, which could send Ethereum into new price territory shortly thereafter.
On-Chain Data Supports Breakout Possibility
Normalized Heatmap data shows MVRV_norm near the higher end of its historical range, meaning most holders are currently profitable. While such conditions have previously triggered selling, the market remains in an upward phase.
Supply_in_loss_norm is close to historical lows, signaling that very few addresses are holding at a loss. This reduces selling pressure and supports price stability at higher levels. Realized_price_norm is rising alongside market price, indicating fresh capital inflow and a higher realized network value.
NUPL_norm remains in a strong positive range, showing broad profitability without entering peak euphoric sentiment. Elevated Supply_in_profit_norm confirms that gains are widespread, supporting the market’s resilience ahead of a potential breakout.
Analysts Point to Liquidity Targets and Higher Price Potential
Trader Sykodelic noted that Ethereum has broken a five-year triangle pattern on the monthly chart with strength. He highlighted that the MACD has crossed bullish for only the third time in five years, with past instances leading to major price expansions.
Analyst BitBull identified key liquidity levels to watch. At $4,150, a cluster of long liquidations is positioned, while at $4,350, short liquidations are concentrated. He suggested that the price may move to trigger downside liquidity before targeting a rally.
Ethereum was trading at $4,208.71 as of writing, reflecting a 1.72% drop in the last 24 hours but a 20.56% gain in the past week. If $4,400 is cleared with strong momentum, the pathway toward $4,800—and beyond to new all-time highs—becomes a realistic scenario.
