Ethereum's Price Surges 50% in a Month, Eyes $4000

Ethereum has recently shown significant strength, outperforming many other cryptocurrencies, including Bitcoin. The price surged to crucial resistance levels not seen since February but failed to surpass this range, resulting in a notable pullback. Previously, rejection from this range had dragged the levels towards the lows below $1400. This raises the question of whether the ETH price will revive a strong upswing to $3000.

In the short term, the ETH price is poised for a strong upswing as the 50/200-day moving averages have undergone a golden cross. However, in the long term, the price is expected to face some upward pressure as the token has dropped below a crucial resistance zone. Previously, a strong buying volume followed this rejection, which pushed the price to $4000.

The ETH price has witnessed its strongest 1-month rise in recent times after the rebound it underwent on April 7, 2025. Meanwhile, the price faced extreme upward pressure last week, which stopped the rally and got rejected exactly at the 50-day weekly moving average. This rebound is technically the new bullish leg of the multi-year rising wedge. The 1-week moving average 50 turned into a resistance when it last broke on the week of January 27, 2025. Once it breaks and closes above the range, one can expect a strong bullish upswing that happened during late 2024.

Therefore, all eyes will now be on the current weekly close, which is now expected to rise above the 200-day weekly moving average and surpass the 50-day moving average. As the weekly MACD has already turned bullish, the ETH price is believed to revive a strong rise back to the psychological barrier at $4000. However, breaking this barrier is extremely crucial to keep up the bullish trend towards a new all-time high.