Ethereum Price Surges 7.7% Past $4,238, Eyes $4,400 Rally
Ethereum price jumped 7.7% to $4,205 after breaching the $4,238 resistance level, marking its top gain among major cryptocurrencies.
Despite a brief false breakout on the hourly chart, the coin holds above the $3,941 barrier on higher timeframes, reinforcing bullish momentum.
Traders should watch $4,093 as key support; a sustained hold may fuel a push toward $4,400 in the short term and test $4,500 by month-end.
Analysts recommend using the Average True Range (ATR) to gauge volatility and momentum.
This Ethereum price rally reflects renewed investor confidence, likely drawing both short-term momentum traders and long-term holders.
Bullish
Ethereum’s strong 7.7% gain and breach of the $4,238 resistance signal robust buying interest. In the short term, holding above key support at $4,093 suggests momentum traders may drive prices toward $4,400. Medium-term outlook remains positive with a potential test of $4,500 by month-end as average true range readings support continued volatility in favor of upside moves. Historically, similar resistance breakouts have led to sustained rallies, indicating renewed investor confidence. Overall, this news is bullish for ETH, likely to attract both short-term traders and long-term investors.