💥 ETH on the Edge — $5K Target Within Reach
Ethereum has rallied strongly after holding key support at $4,500, pushing past $4,550 and $4,650 with solid momentum. The price is now trading above $4,700 and the 100-hour Simple Moving Average, following a bullish trend line with support at $4,480.
After breaking the $4,700 resistance, ETH tested $4,780 before entering consolidation. It’s holding above the 23.6% Fib retracement of the $4,170–$4,782 move, keeping bullish sentiment intact.
Upside Levels to Watch:
Resistance sits first at $4,780, followed by $4,840. A clear move above $4,880 could spark a surge toward $4,950, with potential to hit $5,000 or even $5,150 in the coming sessions.
Downside Risk:
If ETH fails to break $4,780, initial support is at $4,700, with stronger support at $4,650. A break below could target $4,550 and then $4,480. Major downside support remains at $4,350.
Technical Signals:
MACD: Gaining strength in the bullish zone.
RSI: Above 50, supporting bullish momentum.
Major Support: $4,650
Major Resistance: $4,780
