- Ethereum reaches $4,600 newValueHistory For The SECOND time to date, Is close to a NEWALL time high, April After FOUR years.
- Ascending triangle comes with the bullish indicator of a stable upwards trend between mid 2022 and 2025.
- Should the resistance break in an emphatic manner, price targets are estimated at 10,000, 12,000 and 18,000 of the greenback.
Ethereum extended to $4,600 since November 2021, and it currently sits 4.5 percent short of a new all-time high. It is the second time the cryptocurrency has moved to its highs, and the trend puts an end to years of moving in a cyclical fashion.
Technical Setup and Pattern Formation
The Ethereum chart can provide insights into an ascending triangle that has emerged from the middle of 2022 until 2025. The given bullish pattern is characterized by the horizontal resistance at $4,600 and a continuously ascending trendline.
Such an arrangement indicates a persistent purchasing force that has been in operation despite the recurrence of price rejections at the resistance. The 2022 breakout that has just occurred, denoted as point 2, resembles point 1, the 2021 high.
But the new rally has higher lows, and the trading volume is stronger than it was during the last one. This structure proposes a more secure base towards a long-term upward movement, provided the resistance is overcome.
Breakout Potential and Price Targets
Market analyst Crypto Patel noted Ethereum’s approach to its historical resistance, stressing the importance of a decisive close above $4,600. This step would justify a breakout of the years-long consolidation.
Upside potential targets are set at $10,000, $12,000, and $18,000—all in line with Fibonacci extension points and major psychological price levels. These targets are derived from historical market expansion behavior.
The outlined levels suggest substantial room for growth if the breakout is accompanied by stronger investor participation and market liquidity. This would place Ethereum in a price discovery phase.
Key Support Levels and Market Context
The ascending trendline near $3,450 remains an important technical level in the current structure. Maintaining price action above this line during pullbacks will be crucial.
A drop below the trendline could disrupt the bullish setup and delay potential advances toward the outlined price targets. Traders are watching this level closely for signs of continued strength.
At the time of writing, Ethereum trades at $4,623.03, with a 24-hour gain of 7.18% and a weekly rise of 27.30%. Daily trading volume stands at $59.58 billion.
With four years since its previous peak, Ethereum now approaches a price level that could initiate a new phase of market movement.
