- Ethereum crosses the $2,800 mark with upbeat movement and rising volume.
- A close over the 50-week moving average would be a long-term positive trend.
- $4,000 is the primary resistance if the momentum and volume keep building.
Ethereum (ETH) is signalling a powerful bullish comeback at the moment at $2,821.46. The increase is worth 7.3% in the previous 24 hours and 8.7% in the previous seven days, propelling its market capitalization to $340.59 billion and 24-hour volume to $29.11 billion.
Bullish acceleration intensifies as Ethereum moves close to technical points where its next strong direction may be defined. ETH began the week cautiously on the 7-day candlestick chart, portraying a mild downward trend and selling at approximately $2,450 before stabilizing.
Bullish movement resumed during the middle of the week as the volume increased and ETH surged more than $2,600. The rally continued during the weekend, breaking the resistance of $2,800 with heavy purchases, portraying confidence and potential next-day upward movement.
Also Read: Ethereum Building Momentum After Whale Buys, Targets $3,000
Analyst Chart Points to $4,000 Ethereum Target
Adding more fuel to this bullish attitude, crypto analyst @IncomeSharks published the long-term chart for the price of Ethereum, depicting ETH’s movement from the end of 2023 to the middle of 2025 in the form of weekly candlesticks.
The chart has Ethereum just breaking out above the 50-week moving average (WMA 50), now at $2,521.54, the point many regard as the key trend confirmation indicator.
Ethereum, from this perspective, appears to be in a position for more gains. The chart shows the bullish objective of $4,000 with the mark of an upward arrow following the breakout.
Previously, to reach this spot, though, Ethereum must first penetrate significant resistance around the $3,000 to $3,500 range.
Important areas of support, on the other hand, are around $2,440 to $2,460, with further support from the 200-week EMA at $2,277.07 and cues from the Ichimoku Cloud, both suggesting the potential for a resilient bullish trend.
But volume is once more the key factor. The continuation of the volume increase beyond WMA 50 would see Ethereum surging to the $4,000 region.
Should ETH fail to keep the price beyond the support, the price could turn around to $2,440. Traders must, therefore, be careful and wait for at least the confirmation of the close above $3,500 with significant volume before getting into the market.
Ethereum’s Technical Setup Calls for Strategic Trading
In the current situation, one safe way to trade involves setting the stop-loss at $2,440 and the take-profit at $4,000. The strategy makes it possible to balance the prospective gains with risk management.
Secondly, obtaining the latest developments through platforms like TradingView will be essential as ETH makes its subsequent moves.
As the cryptocurrency holds its presence beyond significant levels and gains in positive momentum increase in pace, market sentiment is turning bullish.
Should the trend continue, the token would be due for challenging its psychological and technical highs, and the $4,000 mark would become more than just imagination.
Also Read: Ethereum Price Forecast Hits $255K As Institutions Eye ETH for Treasury Holdings
