Ethereum ($ETH) has smashed through the $4,000 resistance, climbing to $4,200 after a powerful 8% surge in the past 24 hours and a 20% rise over the last week. The broader crypto market is also showing signs of strength, up 1.7% overall, as Bitcoin recovers from a low of $112,000 to trade just above the strong $117,000 support level.
With momentum clearly on $Ethereum side, the next natural target for bulls is the previous all-time high (ATH) of around $4,800. A break above this level would open the pathway to the psychological $5,000 mark — a milestone that could attract even more institutional and retail interest.
ETH/USD 4-hours chart - TradingView
While the outlook remains bullish, traders should keep an eye on the $4,000 level. A sustained drop below this support could signal a deeper correction, especially if accompanied by a broader market downturn. However, a brief dip under $4,000 without wider market weakness could be nothing more than a fakeout before prices rebound.
