- Ethereum rose from $2,400 to $4,190, approaching the $4,000–$4,400 resistance range with MACD showing expanding bullish momentum.
- On-chain metrics show few holders at a loss, rising realized price, and profitability without reaching extreme euphoric market conditions.
- Sustained breakout above $4,400 could push Ethereum toward $4,800, with current on-chain conditions supporting further medium-term market upside potential.
Ethereum is ballooning toward a moment of resistance, following a long bullish run, and on-chain signals point to strong trading conditions continuing.
Price Action Approaches Multi-Year Resistance
According to data from CryptoOnchain, Ethereum has advanced from the $2,400 region to around $4,190 on the Renko 1% LTP chart. The asset is now challenging the $4,000–$4,400 resistance range, which has historically attracted strong selling pressure.
The MACD histogram moves into positive territory while expanding which indicates growing bullish momentum in the market. A daily or weekly close over $4,400 with confirmation would open a path to test the all-time high $4,800. The market participants observe this area carefully because a clear movement from this zone will determine the direction of Ethereum’s upcoming market direction.
On-Chain Indicators Show Broad Holder Profitability
The normalized Heatmap data reveals that MVRV_norm is in deep red territory, near its upper historical range. This indicates many holders are in profit, which in past cycles has sometimes led to selling. However, the metric remains within a rally phase.
Supply_in_loss_norm is near historical lows, showing that few addresses are holding at a loss, limiting potential selling pressure. Realized_price_norm is climbing alongside market prices, suggesting new capital inflows and higher realized network value. Additionally, NUPL_norm is positioned in a high-positive zone, reflecting widespread profitability without entering peak euphoric levels.
Breakout Scenarios and Potential Targets
CryptoOnchain notes that if Ethereum breaks above $4,400 with sustained momentum, the price could target $4,800 in the near term. Medium-term conditions remain supportive as key on-chain metrics have not yet reached historically overheated levels such as MVRV above 3 or peak NUPL.
While profit-taking may increase as more investors move deeper into profit, current data indicates that selling pressure is still relatively weak. Market participants are watching for whether Ethereum can maintain its upward trajectory beyond the $4,400 mark, which could reaffirm the bullish structure and open the door for higher valuations.
