- Ethereum breaks $4K after 1,146 days, confirming support and renewed bullish market structure.
- On-chain data shows $92.8M inflows as ETH holds above $4,475 support with strong accumulation.
- Analysts eye $7,331 Fibonacci target as Ethereum maintains momentum above key moving averages.
Ethereum has entered a renewed bullish phase after breaking above the $4,000 resistance level, ending 1,146 days of consolidation since its previous cycle bottom. The asset is now consolidating above this level, maintaining strong structure and forming a potential foundation for its next upward expansion toward $7,331.
ETH Breaks Multi-Year Range After Fourth Attempt
According to analysis shared by Mags, Ethereum broke above the $4,000 resistance in August after three failed breakout attempts during the current bull cycle. The breakout concluded a long process of consolidating and made $4,000 an established support level.
CoinGecko data shows that Ethereum was trading at approximately around $4,587, with a 1.0% gain in the last 24 hours. Its 24-hour trading range was between $4,481 and $4,593, and its market capitalization was $553.20 billion. The circulation level is kept constant at 120.7 million ETH, with minimal inflation pressure.
Earlier, a brief drop to $3,800 formed a fakeout, followed by a V-shaped recovery that restored bullish momentum above $4,000. On-chain data from Coinglass reported a $92.8 million net inflow on October 5, marking one of Ethereum’s strongest accumulation sessions in weeks. This accumulation phase reflects increased participation from both retail and institutional traders.
Technical Structure Points Toward $7,331 Fibonacci Extension
According to MisterSpread, Ethereum’s technical setup remains strong above the $4,475 support, which aligns with both daily and weekly trend structures. The next resistance level is near $4,780, and holding above current supports may keep bullish momentum intact.
The next potential target is $7,331 based on the Fibonacci extension of the breakout range which is the 1.618. Market data shows Ethereum trading firmly above its key moving averages, indicating ongoing trend continuation.
Having regular inflows, stable liquidity, and increasing tokenization rates on its network, Ethereum has a positive perspective. Analysts note that the market cycle will continue to be highly upheld with the next expansion period targeting $7,331 as long as the price is still above 4,260.
