Ethereum Struggles at $4,800 Resistance Amid Uptrend
Ethereum price has been climbing above its moving averages but has twice failed to breach the key $4,800 resistance. Technical indicators, including a recent test of the 78.6% Fibonacci retracement on August 19, suggest the uptrend could extend toward the 1.272 Fibonacci extension at $5,429.63 if buyers overcome this barrier. On the 4-hour chart, Ethereum is consolidating between $4,000 support and the $4,900 high, with moving average lines sloping upwards. A break below $4,000 could trigger renewed selling pressure, while a successful surge above $4,800 may reignite the rally toward $5,000. Additionally, a prominent Bitcoin investor recently reallocated funds from BTC to ETH, underscoring growing confidence in Ethereum. Traders should monitor the $4,800–$5,000 range and key support at $4,000 for potential entry or exit signals.
Neutral
Ethereum’s repeated inability to clear the $4,800 resistance, despite sustained upward-sloping moving averages and bullish Fibonacci signals, points to a consolidation phase rather than a decisive breakout. Historically, when Ethereum tested key resistance levels without follow-through, the market entered sideways movements until fresh catalysts emerged. The current trading range between $4,000 and $4,900 suggests traders are balancing bullish momentum with profit-taking near resistance. In the short term, this pattern implies limited directional bias and potential range-bound trades. However, a successful breach above $4,800 could trigger a renewed uptrend toward $5,000 and beyond. Conversely, a drop below $4,000 would shift sentiment bearish. Therefore, the market impact is best described as neutral pending a clear breakout or breakdown.