Ethereum Breakout Targets $4.95K–$6.69K as Momentum Turns Bullish

Published: 2026-01-15 19:27:18 |

Ethereum (ETH) is showing breakout signs after clearing a falling wedge and key resistance zones around $3,360–$3,400. Analyst Marzell cites Fibonacci alignment and the 0.382 retracement clearance as evidence of a trend shift, projecting targets at $4,950, $5,760 and $6,690. ETH remains above short-term support near $3,200 but must confirm a move past $3,400 to validate higher targets. CME gaps near $3,325 and $3,000 could draw price action in the short term. Versus Bitcoin, ETH/BTC is compressing above the 21-day moving average, with support around 0.0325 BTC; analysts say holding this level signals increased altcoin risk appetite. Network activity and derivatives metrics show rising engagement: daily transactions hit about 2.6 million and Binance futures open interest climbed to $8.6 billion. Key keywords: Ethereum, ETH price, breakout, Fibonacci targets, CME gap, ETH/BTC, Binance open interest.

Bullish

The article outlines classical bullish technical signals: a breakout from a falling wedge, clearance of the 0.382 Fibonacci retracement, and alignment of higher Fibonacci extension targets ($4.95K, $5.76K, $6.69K). Confirmation above $3,400 would validate momentum continuation. Support levels at $3,200 and ETH/BTC holding above the 21-day MA and 0.0325 BTC reduce downside risk. Rising on-chain activity (≈2.6M daily tx) and increased futures open interest ($8.6B on Binance) indicate renewed engagement and risk appetite, which often amplifies directional moves. Short-term risks include potential retracement to CME gaps (~$3,325 and $3,000) and failure to clear $3,400, which would weaken the bullish case. Historically, similar pattern breakouts in ETH accompanied by rising futures open interest have preceded extended rallies as leverage and volatility climb. Therefore, the balance of technical structure and market participation favors a bullish outlook, while traders should watch confirmation levels, CME gaps, and leverage-driven volatility for trade management.