This Is The Key Level That Stands Between The Ethereum Price And A Surge To $5,000

The Ethereum price has been in a crucial consolidation phase, with analysts closely watching the next big ￰0￱ reclaiming the $4,500 level, the cryptocurrency is now facing one last obstacle before potentially breaking into uncharted ￰1￱ market expert Ted Pillows has set Ethereum’s next price target at $5,000, signaling a potential new all-time ￰2￱ Price Faces Major Hurdle Before $5,000 In a recent technical analysis published on X social media, Pillows explained that Ethereum has successfully reclaimed the $4,500 support level, a point that had previously been a stumbling block for bulls. Now, the market is laser-focused on its next price hurdle at $4,880, which has emerged as the final barrier before a potential ￰3￱ Reading: Ethereum Price At Risk Of Crash To $4,000, Is A New ATH Still Possible?

According to his price chart, a daily candle close above the $4,880 resistance could open the doors to a fresh all-time high and quickly accelerate Ethereum’s momentum toward the $5,000 ￰4￱ last month, ETH shocked the market by breaking its 2021 all-time high and climbing past $4,900. Now, the cryptocurrency looks ready for its next big move, with Pillows confirming $5,000 as the short-term target. Ethereum’s struggle around the $4,880 level comes from repeated failures to push higher at this point in previous ￰5￱ rejection has reinforced $4,880 as a strong resistance, making it the decisive point for bulls to conquer. A clean break above it could invalidate bearish short-term pressure and potentially trigger an influx of buying volume.

However, if Ethereum once again fails to hold above this level, the price could retreat to lower ￰6￱ identified the $4,200 – $4,400 range as the primary demand zone where buyers could step back ￰7￱ area has historically provided strong support and could act as a springboard for another attempt to retest the ￰8￱ Rejected At $4,650 But Holds Support In a follow-up analysis, Pillows noted that Ethereum failed to reclaim the $4,650 level, making its path to reach the $4,880 resistance even more ￰9￱ rejection at $4,650 has raised concerns of a near-term pullback, with the $4,500 region now being the key support to ￰10￱ Reading: Ethereum Exchange Balance Turns Negative For The First Time – Why This Is Bullish For Price If ETH holds above $4,500 and gains fresh bullish momentum, Pillows suggests that another attempt at reclaiming $4,650 could occur, potentially setting the stage for the long-awaited $4,880 ￰11￱ the downside, Ethereum maintains strong structural support between $3,800 and $4,000.

This range has acted as a crucial demand zone during past corrections, absorbing selling pressure and enabling bulls to ￰12￱ longer-term investors, Pillows noted that this support zone presents a significant buy-dip ￰13￱ said that if ETH declines to this level, many altcoins would also enter attractive discount zones, presenting broader accumulation opportunities across the ￰14￱ image from Adobe Stock, chart from ￰15￱