Ethereum News Today: Ethereum Hovers Near $4,300 as Key Resistance Tests Bullish Momentum

Ethereum currently hovers near $4,300, standing at a pivotal juncture as it tests key resistance levels just above $4,700. Analysts and traders are closely watching whether the asset will break through these levels toward $5,000 or face a pullback to lower support zones. The $4,200 mark is critical; a sustained break below could trigger renewed selling pressure before another upward push, while maintaining above it reinforces the bullish trend [1].

The price has shown a strong recovery from this year’s lows of $1,475 in January, regaining significant ground by August and breaking past $4,200. This recovery has been marked by higher highs and higher lows since mid-April, signaling a continuation of the bullish momentum. However, the sharp gains from July to August suggest the rally may be extended in the short term, requiring consolidation to sustain the trend [1].

Fibonacci retracement levels have played a key role in guiding Ethereum’s price action. Earlier corrections found support at the 0.618 and 0.786 levels, with each bounce from these zones resulting in a strong rebound. Now, the asset has surpassed the 1.0 Fibonacci level and is approaching key extension targets. The 1.272 level aligns with $5,570, while the 1.618 extension projects toward $7,668. These levels represent important potential continuation markers for the rally [1].

If the upward trend persists, Ethereum could aim for these extension levels in the coming months. Conversely, a reversal could see the price fall back to $3,850 or $2,950, offering healthy consolidation zones before any renewed advance. A breakout above $4,700 to $4,800 would be a strong confirmation of bullish momentum and open the door to levels beyond $5,000 [1].

Ethereum’s price behavior has historically been cyclical, with major rallies followed by corrections. For example, the coin rose above $4,500 in 2024 before a sharp decline below $2,000, only to rebound in 2025. This recent resurgence affirms a new phase in the existing cycle. A close above $4,731 would validate the current bullish structure, while a move below $4,200 could initiate another selling wave [1].

Traders are now watching how the market reacts to the $4,700 to $4,800 price area. A sustained breakout would signal a shift toward $5,000 and beyond, whereas a pullback would refocus momentum lower. The outcome of this standoff will determine the next phase of Ethereum’s trajectory, as buyers and sellers battle for control at key technical levels [1].

Source: [1] Ethereum at a Crossroads: Pullback vs Breakout Toward $5K and Beyond (https://coinmarketcap.com/community/articles/68a30d7d0305013001d8e289/)