- Ethereum reclaims $4,100 as support, leaving $4,864 ATH as the final major resistance.
- Analysts say holding a $4,100 base is crucial, while $5,000 could trigger market expansion.
- Rising volumes and open interest confirm strong demand as ETH trades near $4,500.
Ethereum has completed a key technical step by breaking above its cycle high of $4,100 and turning it into support. This movement has placed the cryptocurrency in a stronger trading range where only one major resistance remains, the 2021 all-time high near $4,864.
Cycle High Breakout and New Trading Range
According to an observation by Daan Crypto, Ethereum “did the hard part” by reclaiming $4,100 as support after clearing the cycle high. Market charts confirm that this level acted as strong resistance for months before Ethereum finally broke above it earlier this year.
The breakout was supported by rising volumes, showing strong participation during the move. Ethereum then consolidated within a higher range, with $4,100 serving as the new base. Analysts say that holding above this level on higher timeframes is crucial. “Wicks below are fine, but closing under $4,000 could change the trend,” added Daan Crypto.
The next key resistance is the 2021 all-time high at $4,864, which was briefly tested during the recent rally but not fully cleared. Ethereum traded near $4,503 at the time of writing, recording a 0.92 percent daily increase, according to CoinMarketCap.
Path Toward $5,000 and Expansion
Analysts suggest that once Ethereum can trade and settle above $5,000, the market could see further expansion into new price territory. According to Henry, Ethereum is “showing the cleanest structure in the market” with each breakout running higher. He added that “the next chapter will be a full-blown ETH move” as cycles continue to strengthen.
Trading volumes remain elevated, and open interest in derivatives markets is at historically high levels, reflecting increased participation. Market structure shows that $4,100 remains the critical support zone, while $5,000 is the level that could unlock further continuation.
Ethereum’s market capitalization was $543.59 billion, with 24-hour trading volume exceeding $34.8 billion, reflecting strong demand. Analysts now watch whether Ethereum can maintain its base above $4,100 while approaching the $5,000 level, which could lead to further growth.
