Ethereum Faces $4,880 Resistance Before Potential Surge to $5,000

Ethereum Price Analysis:

  • Ethereum is in a key consolidation phase, recently reclaiming the $4,500 level.
  • The next resistance is at $4,880, which, if surpassed, could lead to a new all-time high of $5,000.
  • Technical analyst Ted Pillows suggests a daily close above $4,880 could accelerate Ethereum's momentum toward $5,000.

Ethereum

  • Ethereum has repeatedly struggled to break past $4,880, reinforcing it as a strong resistance.
  • If unable to hold above this level, Ethereum may retreat to the $4,200 - $4,400 support zone.
  • Pillows highlights $4,650 as an intermediate hurdle; failure to reclaim it recently raised concerns of a pullback.
  • Key support remains between $3,800 and $4,000, crucial during past corrections for absorbing selling pressure.
  • This support zone offers long-term investors a potential buy-dip opportunity, with implications for other altcoins.

Ethereum