Ethereum Breaks 500-Day Consolidation, Eyes $4,800
Ethereum ends 500-day consolidation, signaling a strong rally toward $4,800 in the coming weeks.
- Ethereum breaks long-term consolidation trend.
- Analysts eye $4,800 as the next price target.
- Strong market momentum supports the bullish case.
Ethereum (ETH) has finally broken out of a massive 500-day consolidation phase, sending bullish waves across the crypto market. This extended sideways movement kept ETH trapped in a tight range, but the recent surge has confirmed a decisive breakout. Traders and analysts are now shifting their attention to higher targets, with $4,800 emerging as the next major milestone.
The breakout comes amid improving market sentiment, strong on-chain activity, and a broader recovery in the cryptocurrency space. Ethereum’s long consolidation allowed market participants to accumulate, potentially setting the stage for a sharp upward move.
Why $4,800 Is the Key Target
Technical analysts point to $4,800 as a critical resistance level, previously tested during Ethereum’s last major bull run. The breakout above the consolidation range suggests that buyers have regained control, and with momentum building, the price could retest this zone sooner than expected.
On-chain metrics also support the bullish outlook, showing increased network activity and rising ETH staking participation. With supply on exchanges decreasing, the market may be gearing up for a supply squeeze, further supporting price gains.
Market Outlook and What’s Next
While the breakout is a strong bullish signal, traders should remain aware of potential pullbacks. Consolidation after a breakout is common, but as long as Ethereum holds above key support levels, the path toward $4,800 remains open.
If momentum continues, ETH could not only reach $4,800 but also set new all-time highs later in the year. For now, the focus remains on whether buyers can maintain the pressure and sustain the rally.
Read Also :
- Bitcoin Whale Faces $3.28M Loss on Long Positions
- Mastercard Eyes $2B Deal to Acquire Zero Hash
- Forward Industries Approves $1B Buyback After $SOL Reveal
- Crypto Market Dips into Extreme Fear as Index Hits 21
- Bitcoin Price Drop Makes Entry 12% Cheaper
