Ethereum News Today: Ethereum Surges Past $3,900 as Bulls Target $4,089 Resistance Amid 59.1% Volume Spike

Ethereum (ETH) price surged past $3,900 on July 28, 2025, following a sharp breakout from the $2,800 range earlier in the month. The move positioned the asset near a critical multi-year resistance zone, with technical indicators suggesting a potential test of the $4,089 level, a key 2024 swing high. Smart Money Concepts highlighted ETH’s entry into a high-liquidity area historically associated with profit-taking, while derivative metrics and price action indicated bullish momentum [1].

The daily chart confirmed a structural flip in market sentiment, as ETH cleared supply zones between $2,400 and $2,800, breaking out of a compression structure that had defined its price action. On the weekly timeframe, the token approached a red Smart Money liquidity zone between $3,890 and $4,200—a region previously linked to distribution during the 2024 peaks. A close above $4,089 would signal a major breakout and potentially open the path to $4,500 and $4,800 [1].

Derivative activity underscored the bullish case. Coinglass data revealed a 59.1 percent spike in 24-hour ETH trading volume, with open interest rising 6.84 percent to $59.43 billion. Binance’s top trader long-to-short ratio reached 3.07, reflecting strong institutional positioning. Short-term technical indicators, including the 4-hour chart’s alignment with the upper Bollinger Band near $3,920 and a bullish Supertrend flip on July 9, further reinforced the uptrend [1].

The 30-minute chart showed ETH respecting an ascending channel since July 24, with price remaining above key EMA clusters ($3,781–$3,177) and VWAP support at $3,883. The RSI cooled from 66 to 62, avoiding overbought territory and indicating controlled trend continuation. Meanwhile, the Directional Movement Index highlighted growing bullish strength, with +DI at 25.3 outpacing -DI at 11.5 [1].

For the short-term outlook, ETH’s trajectory hinges on clearing $4,089. A successful breakout could drive the price toward $4,300 and $4,500, while a failure to sustain above $4,000 might trigger a pullback to $3,754 or $3,680. Traders emphasized monitoring volume, VWAP, and key support levels to assess whether accumulation persists or profit-taking intensifies near $4,000 [1].

Source: [1] [Ethereum (ETH) Price Prediction for July 28, 2025: ETH Blasts Past $3,900 As Bulls Eye $4,089 Liquidity Zone] [https://coinedition.com/ethereum-price-prediction-for-july-28-2025/]