- Ethereum holds $3,850–$3,900 support in the rising channel, keeping the path open toward $6,000.
- Trading volume jumps 16.48% to $39.15B as bulls defend consolidation range on 12H chart.
- ETFs and whales boost structural demand while Ethereum Foundation plans 10,000 ETH conversion.
Ethereum continues to trade within a rising channel on the 12-hour chart, sustaining momentum after its recent rally. The asset is forming a re-accumulation pattern following strong gains, and analysts observe that bulls are defending the $3,850–$3,900 zone. Ethereum is currently trading at $4,375.58.
Rising Channel And Support Zone
According to an analysis prepared by Captain Faibik, Ethereum has been trading inside a rising channel since March. Price advanced from below $1,600 to near $4,000 before consolidating within the parallel boundaries.
The structure shows higher highs and higher lows, confirming the presence of an upward trajectory on the 12-hour chart. The channel’s mid-range zone, located between $3,850 and $3,900, has been identified as strong support.
According to an observation by market analysts, this area acts as a buy zone during retracements. Bulls have continued to defend this support, preventing the structure from breaking below the mid-channel range.
Path Toward $6,000 Resistance
Chart projections suggest that if the $3,850–$3,900 support holds, Ethereum may attempt another upward leg. The upper boundary of the channel aligns with a resistance target near $6,000, which analysts describe as the next key level. Ethereum traded at $4,375.58 at the time of reporting, recording a daily rise of 0.06%.
Market capitalization stood at $527.98 billion, with trading volume at $39.15 billion in the last 24 hours, according to CoinMarketCap. This volume reflected a 16.48% increase, showing active participation across exchanges. The Ethereum Foundation also announced plans to convert 10,000 ETH over the coming weeks to fund research, grants, and ecosystem growth.
Meanwhile, institutional flows remain strong, with ETFs absorbing hundreds of thousands of ETH. Analysts believe this structural demand supports the long-term outlook. Ethereum’s current re-accumulation pattern signals consolidation within its upward framework, and maintaining support above $3,850 may open the way toward $6,000.
