Ethereum Price Nears $4,500 on BlackRock ETF Momentum, Eyes $5,026 Resistance and Potential Rally to $5,567
Ethereum price has rallied from around $3,600 to near $4,500, driven by BlackRock’s $103 million ETH purchase and renewed spot ETF hopes. After a 9% pullback, ETH still logs a 100% gain over six months. Traders now eye key resistance at $5,026. A decisive break above $5,026 could spark a 20% rally toward $5,567.
Ethereum price support holds at $4,168 and a stronger floor near $3,600. Technical indicators show neutral RSI with room to climb and an approaching MACD bullish crossover. Fundamental drivers include rising DeFi and NFT activity, robust staking metrics, and favorable Fed policy. Increased volume and open interest in ETH futures underline growing trader optimism.
In the short term, ETH may test the $5,000 barrier in September. Over the next quarter, confirmed ETF approval or intensified rumors could propel a sustained uptrend toward $5,100.
Bullish
The news is bullish. BlackRock’s $103 million ETH purchase and the prospect of a spot Ethereum ETF have driven strong institutional momentum. Technical indicators (neutral RSI, impending MACD crossover) and rising volume/open interest in futures support further upside. Short-term, traders may push past $5,000 resistance in September. Over the next quarter, confirmed ETF approval or heightened rumors could fuel a sustained rally toward $5,100.