Ethereum Breakout Setup — $5K in Sight if $4,880 Clears
I see Ethereum regaining bullish momentum after finding support around $4,180–$4,500 and moving back above the 100-hour SMA. The upswing cleared $4,650–$4,700 and tested $4,780, suggesting buyers are in control for now.
The path higher faces clear resistance at $4,780, $4,840 and the key $4,880 level; a decisive break past $4,880–$4,950 would open a near-term run toward $5,000–$5,150. Technicals (hourly MACD rising, RSI >50, bullish trendline near $4,480) support further gains while consolidations stay normal.
I remain cautious about a failed breakout: initial supports to watch are $4,700 and $4,650, with deeper support down to $4,480 and $4,350. I’ll favor entries that either follow a confirmed breakout above $4,880 or a controlled pullback into the $4,650–$4,480 zone with tight risk management.
Analysis
Recommendation
Bias: buy on confirmation. Prefer entries on a breakout above $4,880 or on a disciplined dip toward $4,650–$4,480 with defined stops; manage position size given the nearby resistance cluster.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.