Ethereum (ETH) Price Prediction: After Recovering Key Levels, Long Positions Target $4000

According to Gate news, as reported by NewsBTC, Ethereum (ETH) has once again synchronized with the overall recovery of the crypto assets market, with its price starting to regain ground lost during the recent period of decline. After briefly falling to a local low of $2177 over the weekend, this second-largest crypto asset by market capitalization has risen back above $2400.

As of the writing of this article, the trading price of Ethereum is approximately $2412, but it has still fallen by 2.9% in the past week and 2.4% in the past two weeks. In light of this price performance, CryptoQuant analysts evaluated the interaction between Ethereum and the commonly used trend indicator, the 50-day Exponential Moving Average (EMA), and made projections about the potential direction of this asset.

Ethereum Key Resistance Levels and Historical Price Patterns

According to a recent article by CryptoQuant writer İbrahim COŞAR, Ethereum is facing a critical moment that could determine its next price movement.

Analysts believe that if the 50-day EMA is decisively broken through, ETH could rise to the level of $2800, and if it breaks the resistance level, it may further push up to $4000.

Ibrahim COŞAR emphasized in his analysis that Ethereum must consistently stay above the $2500-2600 range to confirm a breakout. Historical data shows that ETH has also experienced significant volatility after breaking through similar consolidation areas.

(Source: CryptoQuant, Trading View)

Specifically, in the early stages, Ethereum fluctuated between $2100 and $2800, and then surged strongly to $4000. If ETH can break through the resistance level of $2800 in the current market cycle, a similar trend may occur.

COŞAR also pointed out that the 50-week EMA of Ethereum is still a long-term resistance level. Breaking through this technical ceiling, along with a strong daily close above the short-term resistance level, may indicate the beginning of a stronger upward trend.

However, the analyst advises caution and points out that macroeconomic and geopolitical events, especially those involving the United States, Israel, and Iran, may trigger market fluctuations. He suggests avoiding excessive leverage during these periods.

Another crypto assets market analyst, Javon Marks, holds a more optimistic view on the prospects of Ethereum. In a recent article, Marks pointed out that Ethereum has broken through a descending trend line, which historically aligns with a continuous increase in price.

(Source: X, Trading View)

He predicts that Ethereum may rise by 81%, reaching a target price of $4811.71. Additionally, if momentum strengthens, further increases could expand the rise by another 77%, pushing the price up to $8557.68.

These predictions are not guarantees, but they highlight the growing optimism among people regarding the Ethereum market structure, especially for traders who develop strategies in the form of technical charts.

Despite recent fluctuations, as long as key resistance levels are overcome and no major destructive events occur, overall sentiment seems favorable for maintaining an upward trend.