Ethereum Rockets Toward $4,400: Can Bulls Sustain the Momentum?
Ethereum Price Overview
Ethereum $ETH has continued its bullish momentum, breaking above key resistance levels and trading steadily above $4,320. The price is currently consolidating near the $4,400 zone, with technical indicators signaling further potential upside if bulls maintain control.
Recent Price Action
ETH held above $4,120 before resuming its upward trend.
The price broke the $4,250 and $4,320 resistance barriers, similar to Bitcoin’s recent strength.
ETH/USD also cleared a significant contracting triangle near $4,180 on the hourly chart, fueling a rally toward $4,400.
A local high formed around $4,400, with the price holding above the 23.6% Fibonacci retracement level from the $4,093 swing low to the $4,400 peak.
Key Resistance Levels Ahead
Ethereum is trading above the 100-hour Simple Moving Average (SMA) and faces immediate resistance at $4,400.
Next resistance: $4,420
Major resistance zone: $4,500
A confirmed breakout above $4,500 could accelerate gains toward $4,550, followed by $4,650. Beyond that, ETH could test $4,720 or even $4,800 in the short term.
Potential Downside Risks
If Ethereum fails to hold above $4,400, a corrective pullback may occur:
First support: $4,320
Stronger support: $4,250
A decisive break below $4,250 could send ETH toward $4,200, with deeper declines possibly retesting $4,120 or even $4,050.
Technical Indicators
MACD (Hourly, ETH/USD): Gaining strength in the bullish zone.
Ethereum’s near-term trajectory hinges on whether it can decisively break and sustain above the $4,400–$4,420 resistance zone. A move beyond $4,500 could trigger another wave of bullish momentum, while failure to hold this level may result in a short-term retracement toward $4,250 and below.