ETH Soars Past $4.6K as Bulls Eye $5,000 as Next Target (Ethereum Price Analysis)

Ethereum has regained strength over the past week, rebounding and reclaiming the $4,500 zone. Momentum remains constructive, but signs of short-term exhaustion are emerging as the market approaches key resistance. ETH Price Analysis: Technicals By Shayan The Daily Chart On the daily timeframe, ETH continues to trade within a well-defined ascending channel that has guided price action since early spring. The current push toward $4,550 keeps it above both the 100-day and 200-day moving averages, confirming a sustained bullish structure. However, the price is approaching a strong supply area between $4,600 and $4,800, where previous rallies have faced rejection. The RSI has also climbed to 59, reflecting renewed bullish momentum but not yet into overbought territory. If ETH manages to break and close above $4,800, the next leg toward $5,000–$5,200 could unfold. On the other hand, failure to break higher could trigger a retracement toward $4,000 support and the lower boundary of the ascending channel. Source: TradingView The 4-Hour Chart On the 4-hour timeframe, ETH shows a potential bearish divergence between price and RSI, hinting at weakening short-term momentum as price tests $4,550. This region can act as immediate resistance before the $4,800 level, while the $4,200 support zone below remains a key support where buyers previously defended aggressively. A short-term pullback to this zone would not break the overall bullish trend and might even offer better long-term opportunities. Sustaining above $4,200 is crucial for maintaining the current higher-high structure. Source: TradingView Sentiment Analysis The Coinbase Premium Index has flipped positive to around +0.063, signaling renewed buying pressure from the U.S.-based investors on Coinbase. This shows growing spot demand and potential institutional accumulation, despite ETH being at all-time highs. Sustained positive premiums often align with strong market inflows and confidence in ETH’s mid-term outlook. If this buying trend continues, it could provide solid support for Ethereum’s price even if short-term corrections occur. Source: CryptoQuant The post ETH Soars Past $4.6K as Bulls Eye $5,000 as Next Target (Ethereum Price Analysis) appeared first on CryptoPotato .