Major Altcoin Extends Rally as Market Momentum Strengthens
Ethereum (ETH) surged past $4,700 in the latest weekly session, marking its strongest performance in over two years. The move positions ETH just below its historical resistance zone near the $4,800–$5,000 range, a level last tested during the previous market cycle peak.
The breakout reflects growing bullish sentiment across the cryptocurrency market, supported by increased trading volumes and renewed risk appetite. Analysts say the rally has been driven by both technical breakouts and fundamental catalysts, including expectations of broader market liquidity from upcoming monetary policy shifts.
“Ethereum is in a strong technical position,” According to BITX market analyst. “Breaking above $4,800 would be a major statement that the uptrend still has room to run.”
The weekly chart shows ETH forming a double-bottom reversal pattern from its $880–$1,000 support zone, followed by a series of higher highs and higher lows. The breakout above the $3,600 resistance band in recent weeks paved the way for the current rally toward the macro resistance zone.
The immediate support levels now sit around $4,200–$4,300, an area highlighted in the chart where previous selling pressure turned into strong demand. Below that, the $3,000 zone remains a critical structural support for the broader trend.
Market Implications
If Ethereum closes decisively above $4,800, it could trigger a wave of breakout buying, potentially pushing the asset toward new all-time highs. However, failure to clear this resistance could lead to a consolidation phase, with price action oscillating between $4,200 and $4,800.
With momentum indicators still in bullish territory and macro sentiment leaning positive, Ethereum remains one of the top assets to watch in the coming weeks. For traders, the $4,800 line is the critical battleground that could define the next phase of the rally.
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.