Ethereum (ETH) has broken above $4,630, continuing its strong recovery as buyers defend key support zones and maintain a rising trendline.
At the time of writing, ETH/USD is trading near $4,624, up 0.58% in the past 24 hours, as price action holds firmly above the ascending orange trendline drawn from early August lows. The move underscores growing bullish momentum, with Ethereum now eyeing higher levels if it sustains above immediate support.
The rally has been supported by a robust demand zone around $4,400–$4,450, highlighted on the chart by the brown block. This level has repeatedly acted as a launchpad for fresh upside moves, suggesting strong institutional interest. Below this, the $3,950–$4,000 region remains a critical secondary support that could absorb selling pressure in the event of a pullback.
While the breakout above $4,630 is encouraging, traders note that ETH faces an overhead barrier around $4,750–$4,800, where profit-taking has historically increased. A decisive close above this zone could open the door for a test of the psychological $5,000 level in the near term.
“Momentum is clearly with the bulls, but overextended rallies near $4,800 should be watched closely. A healthy consolidation could prepare Ethereum for a more sustainable push higher,” According to BITX .
Ethereum’s latest surge signals strengthening confidence among traders, backed by steady volumes and rising market participation. If ETH holds above $4,600 and the ascending support trendline, analysts expect a continued move toward $4,800 and beyond. On the flip side, failure to defend $4,400 could shift momentum back to sellers.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.