Ethereum News Today: Ethereum Surges Past $3,748 Resistance, Eyes $4,800 As Bullish Momentum Builds

Ethereum has surged past $3,748, a critical resistance level, fueling projections that the cryptocurrency could extend its upward trajectory toward $4,800. This breakout follows months of consolidation between $2,855 and $3,194, with prices stabilizing above the 0.236 Fibonacci retracement line. Analysts highlight that Ethereum’s ability to maintain its position above $3,700 suggests a continuation of the bullish phase, supported by a healthy Relative Strength Index (RSI) of 60.38, which indicates room for further gains before entering overbought territory [1].

The technical structure of Ethereum’s price action reinforces optimism. The asset has surpassed key resistance levels, including $3,447.77 and $3,194.17, which align with Fibonacci retracement levels, signaling a strong continuation of the upward trend. A sustained move above these thresholds confirms the strength of the current rally, while the breakout above the $3,400 horizontal resistance—after a consolidation period from late June to mid-July—has established a clear path toward higher targets at $4,095 and $4,864 [1].

Chart analysis reveals a defined pattern of stair-step growth, with shallow dips and sharp recoveries creating a rounded base that has driven the recent ascent. Ethereum’s price action has formed higher highs with consistent RSI recovery signals, reflecting robust buyer interest. The RSI has reset multiple times on the 4-hour chart, preventing overextension, while the 0.5 Fibonacci line near $2,989 remains a key fallback support level [1].

Projected price targets for Ethereum include $4,000 and $4,800, as visualized with orange dashed lines and yellow boxes on the chart. The $4,000 level is seen as short-term resistance before a larger move toward $4,800, which would mark a significant milestone in this market cycle. Traders are monitoring whether Ethereum can maintain its position above $3,748, which would increase the likelihood of testing $4,095 before challenging the $4,800 target [1].

While the technical indicators point to a favorable outlook, analysts caution that resistance bands between $4,095 and $4,800 could temporarily delay movement. However, these levels are described as technical rather than fundamental obstacles. If Ethereum remains above $3,748 and the 0.5 Fibonacci line near $2,989, the asset could build the momentum needed to surpass $4,800. The long-term structure supports further upside, with consistent price action and shallow corrections reinforcing the bullish narrative [1].

The cryptocurrency’s ascent is also underscored by a strong ascending trendline that has held since early April. This green line, combined with the rounded base pattern, has created a foundation for sustained growth. Traders are advised to watch for any bearish divergences in the RSI, though current momentum remains intact, with buyers maintaining control of the trend [1].

Source: [1] [Ethereum Breaks $3,748 and Targets $4,800 With Bullish Momentum] [https://cryptonewsland.com/ethereum-breaks-3748-and-4800-with-bullish/]