Ethereum (ETH) is riding a wave of bullish momentum, surging 3.46% in a single day to briefly touch $4,045 before facing a minor pullback. The second-largest cryptocurrency now stands firm above the key $4,000 psychological mark, sparking optimism among traders and investors.
The $4,045 level is a crucial resistance zone, previously acting as a strong barrier during the market correction in late 2024. Should ETH sustain above $4K, immediate support levels lie at $3,760 and $3,500, offering potential entry points for bullish traders in case of a dip.
Technical indicators signal a strong uptrend. The Relative Strength Index (RSI) sits at 69.01, approaching overbought territory but still reflecting robust buying pressure. Meanwhile, the MACD line (183.98) remains above the signal line (175.01), reinforcing bullish sentiment despite ongoing volatility.
If Ethereum breaks above $4,050, the next target could be $4,350 in the coming week. However, failure to hold $4K might trigger a swift correction toward $3,760. In this pivotal moment, market participants are closely watching whether ETH will extend its rally or face a short-term reversal.
You might also like: Bitcoin($120K?), Ethereum & XRP Set for Bullish Breakout Next Week? Price Predictions Inside
