Ethereum Surges Towards $4,000 Mark: Bulls Target New All-Time Highs

Ethereum Bulls Eye $4,000: Factors Driving the Surge

With Bitcoin hitting the historic $100,000 milestone, Ethereum is also gaining strong bullish momentum aiming for the $4,000 level. The weekly chart shows a promising performance for Ethereum as it approaches a critical resistance zone between $3.9K and $4K. Breaking through these levels could pave the way for a push towards the previous all-time high around $4.7K to $4.9K.

On the 3-day chart, Ethereum has surpassed the $3.2K resistance, now acting as a support level. Additionally, it finds further support around $3.5K. The next obstacles to watch are between $3,850 and $4,000, representing previous highs. The daily chart confirms the breakout as Ethereum moves above previous resistance turned support levels. Despite a potential bearish divergence, the bullish sentiment remains strong, particularly around the $3,750 mark, which could lead to a surge towards $4,600 and beyond.

Ethereum’s Pathway to New All-Time Highs: Key Resistance Levels

Anticipating a cup-and-handle pattern, analysts forecast Ethereum’s price could reach $7,400 or even $10,000. While facing resistance at $4,000, breaking and holding above this level is crucial to propel Ethereum to higher grounds. Institutional investments in Ethereum, surpassing those in Bitcoin ETFs, signal positive price movements and potential new all-time highs by the year-end.

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