Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate its next big ￰0￱ market expert has highlighted a critical level for ETH, suggesting that as long as the second-largest cryptocurrency can hold above this level, its path to surpassing the $5,000 milestone remains ￰1￱ Price Faces Critical Level At $4,400 According to market expert Daan Crypto Trades on X social media, Ethereum’s recent price action has been choppy following two slow weeks of ￰2￱ analyst’s chart shows that ETH has oscillated between $4,100 and $4,800, with several stop hints and liquidity grabs creating false moves on both the bullish and bearish ￰3￱ Reading: This Is The Key Level That Stands Between The Ethereum Price And A Surge To $5,000 Despite these fluctuations, the $4,400 zone, which sits around the 200-day Moving Average (MA) on the 4-hour chart, continues to act as the key support level that stands between ETH and the $5,000 ￰4￱ Crypto Trades noted that this critical support is not just technical but also aligns with strong accumulation ￰5￱ analyst highlighted that Bitmine Immersion Technologies, Inc.

(BMNR) has been steadily adding to positions, though at a slightly lower pace as Net Asset Value (NAV) flows ￰6￱ shows that as long as Ethereum can maintain its price above the $4,400 support level, buyers may remain in ￰7￱ chart clearly illustrates this battle for support. ETH’s dips below $4,500 have so far been short-lived, with price consistently bouncing back into the consolidation ￰8￱ repeated defense strengthens the case for Ethereum to sustain its momentum and build the foundation for a run above $5,000. For now, patient accumulation within the consolidation zone appears to be the market’s strategy as the cryptocurrency gears up for a potential breakout once broader conditions align. $5,000 Is Only A Matter Of Time In a follow-up analysis, Daan Crypto Trades reinforced his bullish view, noting that Ethereum is essentially in a “$5,000 waiting room.” The analyst’s chart highlights this view, showing ETH rebounding strongly after retesting the $4,400 ￰9￱ both the 200 MA and 200 EMA on the 4-hour chart acting as underlying support, the cryptocurrency’s structure appears intact despite short-term ￰10￱ Reading: Ethereum Price At Risk Of Crash To $4,000, Is A New ATH Still Possible?

Daan Crypto Trades suggested that while a retest of $4,000 – $4,100 is still possible, the market is unlikely to sustain a breakdown below that zone as long as ETH holds $4,400. In other words, maintaining this critical support could pave the way for new all-time ￰11￱ chart also reflected the market’s resilience, with ETH rejecting the lows and quickly climbing back toward $4,600. Such a rebound often signals that bulls may be preparing for the next leg ￰12￱ the momentum continues, Ethereum retesting its former all-time high of $4,868 and breaking above $5,000 may only be a matter of ￰13￱ image from Getty Images, chart from ￰14￱