Ethereum Price Prediction: ETH Eyes $5,000 After 9% Rally
Ethereum (ETH) surged over 9% today to trade around $4,718, stabilizing between key support at $4,659 and resistance at $4,817. On the hourly chart, neither bulls nor bears dominate, suggesting limited volatility in the next 24 hours. A break above the pivotal $4,783 level could trigger a move toward the psychological $5,000 mark. However, the weekly timeframe reveals a false breakout above the November 2021 high. If the weekly candle closes well below that peak, bearish pressure may intensify, potentially dragging ETH back to the $4,500 range by month-end. Traders should monitor these levels closely for entry and exit signals.
Neutral
The prediction highlights both upside potential and downside risks, with Ethereum trading in a defined range. A breach above $4,783 could spark bullish momentum toward $5,000, while failure to hold key levels may lead to a drop to $4,500. Similar past scenarios saw ETH oscillate until a clear breakout occurred. This balanced outlook suggests limited directional bias in the short term, warranting a neutral stance. Longer term, persistence above resistance could shift the trend bullish, but current charts signal consolidation.