Strong Breakout as Market Reacts to Macro Cues
Ethereum (ETH) extended its bullish momentum on Thursday, climbing above $4,600 for the first time in months, as investor sentiment improved following Federal Reserve Chair Jerome Powell’s latest remarks. The move reflects both macroeconomic optimism and growing confidence in Ethereum’s network strength.
On the daily chart, ETH recorded a sharp rebound, closing near $4,606 with an intraday gain of 8.9%. The rally came after buyers defended the crucial support at $4,200, signaling renewed strength among bulls. The next major resistance is visible around $4,805, a level marked by the recent local high.
Technical indicators show that ETH is consolidating above a strong demand zone near $4,000, while momentum favors further upside. If Ethereum sustains above $4,600, analysts suggest a potential retest of the $4,800–$4,900 zone, with a breakout paving the way toward new all-time highs.
“Ethereum’s ability to reclaim $4,600 despite broader market uncertainty is a clear signal of institutional demand,” According to BITX market strategist. “Powell’s speech, which hinted at a steady policy stance, gave risk assets including crypto a much-needed boost.”
According to BITX analyst , “The $4,200 area has proven to be a strong floor. As long as ETH holds above this level, bullish continuation remains the likely scenario.”
The surge in ETH comes as overall trading volumes have risen, with spot and futures markets reflecting heightened interest. The Fed’s cautious optimism regarding inflation and economic growth reduced pressure on risk assets, benefiting both equities and crypto.
Meanwhile, Ethereum’s network activity and liquidity remain robust, adding further support to the bullish outlook. If momentum continues, ETH could test psychological levels above $5,000 in the coming weeks.
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.