Ethereum Breaks Trendline Resistance, Targets $4,000 Next 

• Ethereum has broken key resistance and is now in a bullish breakout zone.  
• Analysts predict Ethereum could surge to $3,600 or even $4,000 soon.  
• Watch for strong support near $3,350 to confirm a sustainable uptrend.  

Ethereum has achieved a milestone, breaking through the descending trendline resistance that has capped its price for weeks. This development marks a potential bullish turnaround for the world’s second-largest crypto, setting the stage for higher targets between $3.6K and $4K. 

The breakout occurred on the 4-hour chart, as highlighted by technical analyst Anup Dhungana. The analyst previously forecasted this move, noting Ethereum’s consolidation within a descending triangle pattern. The chart reveals Ethereum’s price action repeatedly testing the resistance trendline since December, with bearish rejections marked by multiple red arrows. However, the latest breakout finally invalidates the downtrend, providing a potential entry point for optimistic traders.

Technical Analysis: ETHUSD’s Key Levels

Ethereum has traded within a well-defined range over the past two months, as illustrated on the chart. The descending trendline served as dynamic resistance, while the blue-shaded area around $3,100 provided critical horizontal support. Despite multiple bearish attempts, this zone absorbed selling pressure, preventing a deeper correction.

The breakout above the resistance zone around $3,350 signals renewed bullish momentum. Dhungana’s analysis pinpoints $3,600 to $4,000 as Ethereum’s next potential targets, aligning with historical price behavior and Fibonacci retracement levels. Traders should monitor volume indicators closely, as higher volumes would confirm the breakout’s validity.

Bullish Implications and What to Expect Next

The breakout could signify the beginning of a new uptrend for Ethereum, particularly if buyers maintain control above the trendline. However, traders should remain cautious of potential pullbacks to retest the $3,350 level as support. A successful retest could further strengthen bullish sentiment, while a failure to hold this level might lead to a return toward the $3,100 support zone.

This breakout is particularly notable as it comes at a time of renewed interest in Ethereum’s network fundamentals, with the broader crypto market showing signs of recovery. If the market maintains its positive momentum, Ethereum could see a swift rally toward the $4,000 psychological barrier in the coming weeks.

A Final Note: Dhungana’s Expert Call

The consistent focus on Ethereum’s price behavior has been validated with this breakout, as his technical analysis on the 4-hour chart proved accurate. His tweet accompanying the analysis highlights the importance of closely watching this pivotal moment for Ethereum traders.

With the token now breaking free from its descending resistance, all eyes are on whether it can sustain this move and push toward the ambitious $4,000 mark. As always, caution and risk management are critical as traders navigate this dynamic market.