Ethereum Faces $4,800 Test As Traders Brace For Breakout

Summary Ethereum holds near $4,450 after rebounding from $4,100, staying inside a rising wedge pattern. On-chain data shows $84 million in outflows, reflecting accumulation and tightening supply. A break above $4,800 could open the path to $5,200, while $4,300 remains key ￰0￱ Jainam Mehta ​Ethereum (ETH-USD) is trading near $4,450 after rebounding from $4,100, holding firmly within its ascending trendline that has guided the market since ￰1￱ daily structure shows compression beneath the $4,800 ceiling, where price has repeatedly met resistance over the past two ￰2￱ narrowing wedge pattern reflects mounting tension, with the next breakout likely to define the direction of Ethereum’s next ￰3￱ holds firm within rising structure Technically, Ethereum price continues to respect its upward trendline, which now provides solid support near $4,300.

A sustained close above $4,500 would strengthen the bullish case and set up a retest of $4,800. Clearing that level could confirm continuation toward $5,200, the next significant resistance ￰4￱ the other hand, a breakdown below $4,300 could send the token toward $4,080, aligning with the Parabolic SAR level, while deeper losses might expose $3,600–$3,200 as broader demand ￰5￱ price dynamics () Momentum indicators suggest that buyers remain in control, but the market’s next move depends heavily on whether price can sustain above short-term ￰6￱ structure still favors upside as long as the rising trendline ￰7￱ outflows support bullish case On-chain metrics reflect encouraging ￰8￱ to Coinglass data, Ethereum recorded $84 million in net outflows on October 8, signaling that more tokens are being withdrawn from ￰9￱ trend indicates reduced selling pressure, often associated with long-term ￰10￱ periods of negative net flows have historically supported upward continuation, particularly when combined with tightening technical structures.

However, derivatives positioning paints a more cautious ￰11￱ interest in Ethereum futures has fallen to $60.3 billion, down over 5 percent in 24 hours, even as trading volumes surged by more than 50 ￰12￱ suggests that short-term traders are reducing exposure despite strong spot ￰13￱ open interest has risen above $15 billion, showing that volatility hedging is building ahead of potential directional movement. Binance’s long-to-short ratio remains above 2.0, signaling that speculative positioning still leans ￰14￱ Ethereum’s price action points to an impending ￰15￱ technical compression beneath $4,800, supported by consistent outflows and stable demand, positions ETH for a possible extension higher.

A confirmed breakout above $4,800 would likely accelerate momentum toward $5,200, while failure to defend $4,300 would open a broader correction toward mid-$3,000 ￰16￱ earlier analysis, Ethereum’s ascending structure was identified as a base for potential continuation if buyers held the $4,300 ￰17￱ outlook remains valid, with price now coiling for what could be a decisive test of the $4,800 ￰18￱ material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our ￰19￱ we adhere to strict Editorial Integrity , this post may contain references to products from our ￰20￱ Post