
Ethereum Surges Beyond $4,600 as Traders Set Their Sights on $5,000
Ethereum has surged in price, exceeding $4,600 with bullish signals pointing towards a $5,000 target.
Ethereum has regained strength over the past week, rebounding and reclaiming the $4,500 zone. Momentum remains constructive, but signs of short-term exhaustion are emerging as the market approaches key resistance.
ETH Price Analysis: Technicals
The Daily Chart
On the daily timeframe, ETH continues to trade within a well-defined ascending channel that has guided price action since early spring. The current push toward $4,550 keeps it above both the 100-day and 200-day moving averages, confirming a sustained bullish structure. However, the price is approaching a strong supply area between $4,600 and $4,800, where previous rallies have faced rejection.
The RSI has also climbed to 59, reflecting renewed bullish momentum but not yet into overbought territory. If ETH manages to break and close above $4,800, the next leg toward $5,000–$5,200 could unfold. Conversely, failure to break higher could prompt a retracement toward $4,000 support and the lower boundary of the ascending channel.
ETH Daily Chart
Source: TradingView
The 4-Hour Chart
On the 4-hour timeframe, ETH exhibits a potential bearish divergence between price and RSI, suggesting diminishing short-term momentum as price tests $4,550. This region can act as immediate resistance before the $4,800 level, while the $4,200 support zone below remains a pivotal support where buyers have previously defended aggressively.
ETH 4-Hour Chart
Source: TradingView
Sentiment Analysis
The Coinbase Premium Index has flipped positive to around +0.063, signaling renewed buying pressure from U.S.-based investors on Coinbase. This indicates increasing spot demand and potential institutional accumulation, despite ETH being at all-time highs.
Sustained positive premiums generally align with strong market inflows and confidence in ETH’s mid-term outlook. If this buying trend continues, it could provide solid support for Ethereum’s price even if short-term corrections occur.