Ethereum News Today: Ethereum Surpasses $4,230 Breaking Key Resistance 8.37% Gains in 24 Hours

Ethereum (ETH) surged past $4,230 following a swift and decisive breakout from key resistance levels, marking a significant milestone for the second-largest cryptocurrency by market capitalization. The price climbed over $4,000 with ease, triggering bullish expectations among analysts and traders. According to CoinMarketCap analytics, ETH is currently trading at $4,230.75, reflecting an 8.37% increase in the last 24 hours. The asset now commands a total market cap of $510.39 billion and a 24-hour trading volume of $48.47 billion [1].

The breakout appears to have been anticipated by some analysts, who had highlighted $4,000 as a psychological level and $4,100 as a major resistance point. One analyst noted that breaching $4,100 could lead to a short squeeze, potentially pushing ETH toward $4,400–$4,500 within hours. However, ETH surpassed these levels with relative ease, quickly reclaiming $4,200 after clearing the $4,000 threshold [2].

Analysts also point to the possibility of Ethereum reclaiming its previous all-time high of $4,891.70, set in 2021, and potentially setting a new ATH beyond $4,900. Some are even more optimistic, suggesting that ETH is breaking out of a symmetrical triangle pattern—a technical formation often associated with strong directional momentum. Based on this pattern, one analyst has outlined an $8,000 price target for Ethereum [3].

These developments come as Bitcoin’s dominance in the cryptocurrency market dips to 59%, signaling a shift in capital flow toward altcoins. The performance of ETH reflects broader sentiment favoring altcoin exposure, with traders and investors closely watching for further signs of strength. With the price of ETH under 15% away from its historical peak and exhibiting strong upward momentum, the stage is set for continued bullish movement, though actual price action will ultimately determine whether these projections hold.

Source: [1] ETH Hits $4,230, Breaking Past Major Resistance Levels with Ease, $8,000 Target Unlocked (https://cryptonewsland.com/breaking-past-major-resistance-levels/)