Ethereum ($ETH ) decisively broke above a resistance level, the 50-day Exponential Moving Average (EMA50), triggering a new bullish momentum in the market. This breakout marks a significant shift in the market trend, paving the way for a potential rally toward higher targets, around the $4,000 level.
After breaking above the EMA50 barrier, the price of Ethereum experienced an explosive rally. Cryptocurrency analyst Doctor Profit predicted on social media that the $ETH is preparing for a significant rise toward $4,000. He highlighted that Ethereum finally managed to close above the key moving average after weeks of resistance and failed attempts to turn it into support, evidenced by the multiple rejections marked by green arrows. The breakout of Ethereum triggered a strong continuation movement, with its price rising more than 28.17% in just one week, from about $2,500 to a peak near $3,226.
According to Doctor Profit, the current technical structure of Ethereum suggests that further gains may follow the EMA50 breakout. The clean breakout and support above the moving average invalidated previous bearish pressure zones and opened the way for potentially higher price targets. Based on the historical price behavior after similar breakouts, the analyst expects Ethereum to aim for $4,000 in the coming weeks, which would represent a remarkable increase of 9.64% from its current price of approximately $3,648.
Crypto market expert Henry stated in a recent analysis that Ethereum made a comeback, surpassing $3,400 for the first time in five months and breaking a Bull Flag pattern. This upward momentum follows weeks of price consolidation and a false breakout that seems to have eliminated previous bearish liquidity. After forming two distinct consolidation zones around the $1,800-$2,000 and $2,800-$3,000 levels, the $ETH simulated a breakout before launching a sharp rally. The chart structure of the cryptocurrency now shows strong signs of continuation, with the current trend pointing to an immediate target of $4,000. Henry predicts that Ethereum's bullish targets extend well beyond $4,000, with potential milestones projected at $6,000 and even $10,000. While the analyst remains confident in ETH's ability to reach these bullish targets, he acknowledges the possibility of a short-term correction.
