Ethereum Eyes $4,000 Rally After Breaking $3,800
Ethereum price (ETH) has extended its bullish run, rising from around $3,744 on July 20 to a recent peak of $3,800, up 0.51% intraday. Trading volume jumped 12% week over week, supporting a breakout above key resistance and reinforcing the uptrend. The ETH price is trading above its 50-day moving average, with short-term resistance at $3,900 and support at $3,700. Most of the daily ATR has been consumed, indicating limited volatility. Sustained high volume and bullish control across higher time frames point to further upside momentum into month-end. Market sentiment remains optimistic ahead of the Shanghai upgrade, and traders are eyeing a potential rally toward $4,000 if momentum persists.
Bullish
Ethereum’s price action displays clear bullish momentum, marked by a rise from $3,744 to $3,800 and a breakout above key resistance on increased trading volume. Holding above the 50-day moving average and sustained high volume across time frames suggests continued buying pressure, while the consumed ATR points to limited short-term volatility. Optimistic sentiment ahead of the Shanghai upgrade further supports upside potential, with traders targeting $4,000. These factors indicate both short-term continuation of the rally and favorable long-term outlook for ETH price.