Ethereum Surges 45% Since April Low, Eyes $8,036.99 Resistance

Ethereum has recently shown significant price movements, bouncing from a low of $1,385.41 in April and now eyeing a resistance level at $8,036.99. The cryptocurrency has cleared the $2,711.47 mark and is now moving along Fibonacci zones that point to potential targets at $5,518.49 and $8,036.99. The price structure indicates that Ethereum broke above key retracement levels after reversing from a steep drop in April, suggesting a bullish continuation.

Fibonacci lines are now guiding traders to monitor $3,254.49 and $4,106.45 for breakout confirmation before reaching higher resistance levels. The recent rebound started from the 0.0 Fibonacci level and pushed through multiple resistance levels, surpassing the 0.236 mark at $1,662.66 and holding above the 0.382 at $2,098.16. These levels confirmed the trend's strength, and strong buying pressure helped Ethereum break above the 0.618 zone at $2,711.47, typically viewed as a bullish confirmation level.

Following this, Ethereum attempted to close above $2,855.49, the 0.786 Fibonacci retracement zone, but faced rejection around that mark. However, the price movement remains within the Fibonacci-defined uptrend. Traders are watching the 0.886 level at $3,039.63 for the next possible pivot. Beyond that, additional resistance lies at the 1.0 extension ($5,518.49), then at the 1.272 ($6,039.15), and ultimately the 1.618 level at $8,036.99.

These Fibonacci levels act as psychological milestones. If the price sustains above each step, the upside potential remains strong in the mid-term. The market structure continues to support the breakout, with volume trends and recent momentum both confirming buyer interest since the April turnaround. However, failure to maintain current levels may send Ethereum back toward the 0.5 support around $2,285, where it has reacted in the past.

The chart also displays a strong V-shaped bottom pattern beginning in early April, marking the cycle’s major reversal point. Prior to the rebound, Ethereum had dropped for months, losing over 45% of value between January and March 2025. That downtrend found a clear base at the $1,385.41 mark. The reversal since then has followed consistent Fibonacci intervals. The V-recovery occurred as traders doubted the start of a bull market, a sentiment echoed in the public chart commentary.

Ethereum’s bounce off key levels mirrors historical cycles, where early-stage gains formed steep trajectories before gradual resistance took hold. This resemblance is reinforced by the social update noting, “the most FOMO I’ve ever seen,” referring to Ethereum’s breakout speed. As Ethereum moves through Fibonacci zones, technical traders will assess price reactions to $3,254.49, $4,106.45, and eventually the $5,518.49 zone. Each of these levels could attract profit-taking, or if broken cleanly, confirm further acceleration in trend continuation toward $8,036.99.