$ETH On the daily chart, Ethereum recently confirmed a significant bullish breakout from $3,351, surging to a high of $4,890 before encountering resistance.
This rise was accompanied by large bullish candles and increased trading volume, indicating a revival of market momentum.
Although the resistance level at $4,890 prompted partial profit-taking, the overall trend remains upward, supported by higher highs and lows.
If the price pulls back to the $4,400–$4,500 range and holds support, it could present an ideal buying opportunity on the dip. However, failure to reclaim $4,890 confidently may signal a short-term pause or correction.
===========
On the 4-hour chart, Ethereum demonstrated a classic V-shaped recovery from $4,062 to $4,890, likely triggered by a short squeeze or news rally.
The price is currently consolidating between $4,700 and $4,890, which is a healthy development after such a steep rise.
Support at $4,650–$4,700 is critical; strong defense here could precede another surge to recent highs.
Traders should closely monitor volume, as a breakout above $4,890 on high volume will confirm continuation, while a breakdown below $4,650 may indicate short-term weakness.
==========
On the 1-hour chart, Ethereum has entered a narrow consolidation range between $4,700 and $4,800 after a quick rise from $4,200 to $4,890. Volume has decreased during this range-bound movement, indicating uncertainty or anticipation of the next catalyst. Scalpers may consider opening long positions on a bounce from $4,700 with a tight stop, targeting exits around $4,800–$4,850. However, a drop below support at $4,700 could trigger swift downside pressure. The microstructure indicates neutrality, with short-term momentum awaiting confirmation.
============
Bullish Verdict:
Multi-timeframe consistency of Ethereum, strong institutional volume, and confirmed bullish signals across all major moving averages support the continuation of the upward trajectory.
As long as support at $4,700 holds and the $4,890 level recovers, Ethereum remains poised for another rally, with the potential to break into uncharted territory above $5,000.
===========
Bearish Verdict:
Despite Ethereum's recent rise, excessive upward movement combined with weakening momentum and mixed oscillator signals increases the risk of a short-term correction.
Failure to hold support at $4,700 or rejection at $4,890 could prompt a pullback to the $4,400–$4,200 range, challenging bullish prospects in the short term.
