Ethereum Price Analysis: Bullish Sentiment Gradually Builds for ETH

Ethereum has been in a period of consolidation, showing strength above the psychological $4K level while continuing to hold a bullish ￰0￱ a lack of aggressive upside moves, the asset action remains constructive, and sentiment appears to be shifting in favor of buyers ￰1￱ Analysis By Shayan The Daily Chart On the daily chart, Ethereum is still moving inside a steep ascending channel, consistently printing higher highs and higher ￰2￱ consolidating below the $4.8K resistance, ETH has pulled back slightly toward the midline of the ￰3￱ is also staying above both the 100-day and 200-day moving averages, which reinforces the bullish macro ￰4￱ long as this channel holds, Ethereum is in a healthy ￰5￱ RSI is also hovering around 51, reflecting a neutral momentum with potential for another leg up if bulls regain ￰6￱ buyers manage to break through $4.8K with volume, a move toward $5K and beyond would be imminent.

However, a break below the channel could open the doors for a retest of the $4K or even the $3.5K support ￰7￱ 4-Hour Chart On the 4-hour chart, Ethereum has been trading in a tight range between $4.3K and $4.8K, also forming a local ascending ￰8￱ price has tested the lower bound multiple times, but each dip has been met with buying ￰9￱ suggests that buyers are still active at these levels. However, RSI on this timeframe has dropped to around 41, indicating weakening momentum. Therefore, if the price closes below the lower trendline or the $4.3K supply zone, the next area of interest would be the purple support level around $3.8K. Until then, the overall structure remains intact with potential for continuation if ETH reclaims short-term resistance ￰10￱ Analysis Coinbase Premium Index From a sentiment perspective, the Coinbase Premium Index for Ethereum is showing a healthy amount of green activity, indicating positive spot demand from ￰11￱ is often a sign that institutional and retail interest is supporting the ￰12￱ to past rallies, the current premium is not overheated, which means the market may still have room to ￰13￱ positive premium has coincided with ETH’s move above $4K and its stability near ￰14￱ shows that despite the market cooling off in the short term, buyers continue to accumulate on dips.