Ethereum Tests $2,850 Resistance with $4,000 Target Set by Analyst
Ethereum's Market Positioning
- Ethereum (ETH) is advancing as Bitcoin (BTC) consolidates near all-time highs.
- Current price action is approaching the critical $2,800 resistance level, which has capped growth since February.
- Analyst Ted Pillows notes that breaking the $2,850 mark could lead to a surge toward $3,000 or higher.
Market Sentiment and Technical Indicators
- Renewed spot demand and strong technicals are driving ETH's performance.
- The U.S. Federal court's decision against former President Trump's tariffs contributes to market uncertainty but does not hinder Ethereum's upward trend.
- ETH shows resilience supported by growing demand and bullish investor sentiment.
Weekly Performance Analysis
- ETH is currently trading at $2,728.36, recovering from lows of around $1,600.
- It has reclaimed key moving averages: the 34-week EMA at $2,511.42 and the 100-week SMA at $2,605.71, now serving as support levels.
- A confirmed weekly close above the 50-week SMA at $2,729.64 could push prices toward the $3,200–$3,600 range, with $4,000 as a target if momentum continues.
As long as ETH maintains its structure above $2,700 and breaks through $2,850, it may challenge previous cycle highs and lead further in the crypto market.
