Cryptocurrency Ethereum, having experienced a breakthrough, is now trading at a record high of $3,833. $4,400 is anticipated as the next significant target.
Ethereum (ETH), the second-largest cryptocurrency by market cap, is currently testing a key horizontal resistance near $4,400, a level that has repeatedly capped price advances over the past 18 months.
The recent surge of ETH to around $3,833 has positioned it to test this critical resistance again after breaking out of a long-term descending trendline set since late 2023. A successful weekly close above $4,400 would mark the first sustained breakthrough in nearly 18 months, potentially signaling a strong bullish shift and unlocking further medium-term upside for ETH.
The $4,400 resistance has acted as a ceiling where Ethereum has reversed after approaching or briefly surpassing it. Failure to clear this level has led to multi-month declines, indicating it is a significant psychological and technical barrier that traders watch closely. Should the price be rejected again at this resistance, ETH may retrace or consolidate before another attempt.
Technical analysis supports a positive outlook toward $4,400, highlighted by recent breakouts from lower resistance bands, bullish momentum formations like Head and Shoulders Bottoms, and growing institutional interest. On-chain metrics and Layer 2 ecosystem growth underpin fundamental strength, suggesting less sell pressure and increasing utility that could sustain a successful break above $4,400.
The weekly chart shows a breakout from a long-term descending trendline, a sign of improving sentiment across the Ethereum market. The steady increase in volume indicates strong demand for ETH, while the green moving average near $1,800, previously serving as long-term support, is currently being defended.
As Ethereum approaches the $4,400 mark, it may continue to build steady participation from traders. If ETH closes above $4,400, it would mark the first break above this zone in over 18 months, potentially opening the door for new highs and a potential new bull cycle. However, another rejection at this resistance could risk a downturn or sideways action.
In summary, the $4,400 resistance is a pivotal point that will likely determine Ethereum’s near-to-medium term price trajectory. A breakout above would signal a bullish shift, while another rejection could indicate a continuation of the consolidation phase. Traders and investors will be closely watching this critical level in the coming weeks.
Cryptocurrency traders are closely monitoring the $4,400 resistance level as Ethereum, the second-largest crypto by market cap, approaches this critical barrier. A successful break above this level could potentially signify a strong bullish shift for Ethereum, following its recent surge and the breakout from a long-term descending trendline, driven by positive technical analysis and growing institutional interest.
The latest surge of ETH to around $3,833 has renewed hope for a potential break above the $4,400 resistance, a breakthrough not seen in nearly 18 months. Should ETH fail to clear this level, it might indicate a continuation of the consolidation phase or a potential rejection, which could lead to a downturn or sideways action.
