- ETH rallies from $3,050 to near $4K, with key breakout level at $4,074 and heavy resistance at $4,374–$4,534.
- Analysts warn of possible double top reversal if selling pressure builds at upper resistance zones.
- Long term targets of $6,500–$8,000 remain if bullish fundamentals and breakout momentum sustain.
Ethereum is nearing a key price level after weeks of sustained gains, with analysts warning of a possible short term top. Since mid July, the digital asset has surged from about $3,050 to just under $4,000, establishing one of its strongest rallies in recent months.
Analyst Scient on X noted that Ethereum is the strongest asset in the market and suggested the current move is following a short term plan. He added that the price could briefly surpass $4,000 before a potential reversal, outlining plans to sell half of his long held position between $4,000 and $4,300.
Price Action and Key Levels
Price moves show Ethereum peaked near $3,970 in late July before retreating into the $3,420–$3,480 demand zone. Buyers stepped in at this level, pushing the price above mid range resistance around $3,745–$3,820, confirming continued bullish momentum.
The next key resistance is at $4,074, with major zones higher at $4,374 and $4,534. If Ethereum sustains a move above $4,074, charts suggest the price could target the $4,374–$4,534 range.
However, this upper range is expected to attract heavier selling pressure. Analysts warn this could form a double top pattern, which often suggests a reversal in trend. Should that occur, a pullback toward $3,820 or possibly $3,600 may follow.
Analyst Views on Short and Long Term Prospects
Michael van de Poppe compared Ethereum’s $4,000 price levels in 2021, December 2024, and the current market. He noted that in 2021, Ethereum was overpriced, while in December 2024, it was likely fair value. Currently, he pointed to factors such as stablecoin growth, ETF staking, and U.S. regulatory approvals as supportive elements.
Van de Poppe indicated that a move toward $6,500–$8,000 could align with fair market valuation in the long term. However, he cautioned that the asset has risen 90% in less than a month, increasing the risk of a short term stall.
Final Outlook
Analysts note the $4,074 breakout level and the $4,374–$4,534 supply zone as key points for short term market direction. A decisive move beyond $4,534 could lead toward $4,700 and beyond, while rejection at upper resistance may lead to deeper retracements.
