Ethereum Rebounds from Key Support and Pushes Higher
Ethereum has regained strong upward momentum, breaking above $4,300 after bouncing from a crucial support zone earlier this week. The move marks a 3.9% daily gain, placing ETH firmly back inside its ascending price channel that has guided the trend since April.
The chart highlights repeated higher lows forming at key demand areas, reinforcing the bullish structure. Each corrective dip has been met with aggressive buying, particularly at the red horizontal supports, where Ethereum formed rounded bottom patterns before resuming its climb. “Ethereum has shown resilience at every retest of support. The latest breakout above $4,300 signals buyers are in control again,” BITX technical analysts noted.
ETH’s trajectory within the rising channel suggests potential upside targets in the coming sessions. The upper boundary of the channel, near $4,600–$4,800, stands as the next resistance zone. A breakout above that range could propel the asset toward $5,000 psychological resistance, where profit-taking may intensify.
On the downside, traders are watching the $3,950–$4,000 zone as the most important support level. If Ethereum slips below this threshold, it could retest the lower channel boundary around $3,700. However, as long as ETH trades above $4,000, the overall outlook remains constructive.
BITX Market observers emphasize the importance of Ethereum’s current momentum in relation to broader crypto sentiment. “Ethereum holding above $4,300 is not just a technical event—it reinforces market confidence at a time when Bitcoin is also testing major resistance levels,” one expert explained.
With growing trading volume accompanying the surge, Ethereum’s breakout appears to be supported by strong market participation. This combination of price action and volume suggests that ETH may sustain its rally in the near term.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.