- Ethereum trades above $4,700 after a 9.77% weekly surge, showing bullish market sentiment.
- ETH broke above $4,000 and turned it into key support as ETH aims higher.
- Market cap jumped over $70B in the past week, showing strong institutional buying interest.
Ethereum is showing one of its strongest bullish structures in months, consolidating near $4,700 as it inches closer to a critical $5K breakout zone.
Ethereum Breaks Out Above Resistance
As of September 13, ETH is trading at $4,719.70, up 4.30% in the last 24 hours and nearly 10% over the past week. After breaking a barrier that had held since early 2024.
The breakout above the red resistance line at $4,000 flips it into a strong support zone. This shift in market structure has seen ETH consolidate above $4,700 with smaller-bodied candles — a sign of potential continuation.Technical indicators are confirming the strength of the move.
The bullish rally began from the $2,200–$2,400 accumulation zone and intensified after ETH cleared the $2,800–$3,000 demand zone, previously a resistance level. Analysts highlight that this move was backed by strong momentum and large bullish candles, a sign of aggressive buying.
Short-Term Cooling, But Trend Remains Intact
On the 30-minute chart, ETH showed signs of short-term cooling after hitting a local high near $4,750. Currently, it’s consolidating around $4,722.32. RSI is holding steady at 57 — in a neither overbought nor oversold territory,however the downward slope in RSI and a bearish MACD crossover point to temporary exhaustion.
Even though price remains well above intraday support at $4,650. If ETH manages to maintain above $4,700, bulls are likely to rally higher, but a dip below $4,650 could invite a brief correction.
Market Cap Surge Signals Growing Interest
Ethereum’s market cap surged pushing it past the $570 billion milestone. This rally reflects rising investor confidence and a renewed appetite for risk in the crypto market.
This momentum is drawing attention from institutional circles. With over $170 billion worth of ETH staked — nearly 29% of its supply — Ethereum is increasingly behaving like a yield-generating instrument. Annual yields of 3–4% for validators make it an attractive platform for Wall Street’s next wave of financial infrastructure, from ETFs to tokenized bonds.
