Ethereum (CRYPTO: ETH) is showing early signs of a breakout after weeks of consolidating inside a symmetrical triangle and testing a critical level that could shape its near-term direction.
After weeks of sideways trading, analyst Ash Crypto noted the push of ETH above the $4,400 resistance line that restricted price action in the recent sessions.
The trend indicates a momentum on the side of buyers where support is trending higher and resistance is steady.
A long run break above $4,400 may become the path to $4,500, which is considered a decisive level by traders as the entry point to new highs.
However, once ETH does not maintain this mark, the price can fall to the level of $4,100-$4,200, where the buyers have shown support before.
Also Read: Bitcoin At $114,000 Ahead Of Inflation Data: Here’s How High It Could Go
Will Ethereum Revisit Its All-Time High Near $4,884?
According to a post by TedPillows, BitMine has bought more than $204 million of ETH in the last 24 hours, comprising three huge transactions of nearly 46,000 ETH.
The largest single move was 20,895 ETH valued at $90.5 million, underscoring the strong institutional appetite behind the latest rally.
Investor Ted highlighted that a daily close above $4,500 would show strength and potentially open the path toward the previous all-time high near $4,884.
Analysts also point to recent whale accumulation and steady institutional inflows as signs of growing confidence. If momentum holds, ETH could target $5,000 in the coming weeks.
With $4,500 acting as the clear pivot, the next sessions could determine whether Ethereum extends toward new highs or faces another round of selling pressure.
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