ETH regains momentum with key support holding firm
Ethereum (ETH/USD) has moved above the $4,540 mark, showing renewed bullish strength after consolidating around its support zone near $4,300–$4,350. The breakout suggests that momentum could carry the second-largest cryptocurrency toward testing higher resistance levels in the days ahead.
The chart indicates that Ethereum has repeatedly defended its green support band near $4,300, forming a strong base for upward movement. Each dip into this level has attracted buyers, limiting downside risk.
Now, with ETH climbing past $4,540, traders are eyeing the next target: the “weak high” near $5,000, which marks a critical resistance zone. A decisive break above this region could open the door to further gains, potentially pushing Ethereum into new territory for September., “Ethereum holding above $4,540 shifts momentum firmly in favor of bulls. As long as the $4,300 support holds, the path of least resistance remains upward.”
According to BITX analysts that the current setup resembles earlier recovery phases seen in July, where ETH rebounded strongly from a well-established demand zone. “The repeated defense of $4,300 shows conviction from buyers. Now the focus is on breaking the $5,000 barrier,” they explained.
Ethereum’s broader uptrend remains intact, supported by higher lows and strong volume near support. However, analysts caution that rejection at $5,000 could lead to another consolidation phase back toward $4,350 before any sustained breakout occurs.
Still, as long as ETH maintains its footing above $4,540, traders view the trend as favorable. This level now acts as immediate support, reinforcing the bullish case.
Ethereum’s breakout above $4,540 marks a significant step for buyers, with momentum pointing toward the $5,000 resistance. If bulls can secure a clean break, the market may witness the next leg of the rally. Until then, $4,300 support and $5,000 resistance remain the key levels defining Ethereum’s short-term outlook.
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.