Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Ethereum price has been in a crucial consolidation phase, with analysts closely watching the next big move. After reclaiming the $4,500 level, the cryptocurrency is now facing one last obstacle before potentially breaking into uncharted territory. Crypto market expert Ted Pillows has set Ethereum’s next price target at $5,000, signaling a potential new all-time high. Ethereum Price Faces Major Hurdle Before $5,000
In a recent technical analysis published on X social media, Pillows explainedthat Ethereum has successfully reclaimed the $4,500 supportlevel, a point that had previously been a stumbling block for bulls. Now, the market is laser-focused on its next price hurdle at $4,880, which has emerged as the final barrier before a potential breakout. Related Reading Ethereum Price At Risk Of Crash To $4,000, Is A New ATH Still Possible? 1 week ago
According to his price chart, a daily candle close above the $4,880 resistance could open the doors to a fresh all-time high and quickly accelerate Ethereum’s momentum toward the $5,000 milestone. Just last month, ETH shocked the market by breaking its 2021 all-time highand climbing past $4,900. Now, the cryptocurrency looks ready for its next big move, with Pillows confirming $5,000 as the short-term target. Source: Chart from Ted Pillows on X
Ethereum’s struggle around the $4,880 level comes from repeated failures to push higherat this point in previous sessions. Each rejection has reinforced $4,880 as a strong resistance, making it the decisive point for bulls to conquer. A clean break above it could invalidate bearish short-term pressureand potentially trigger an influx of buying volume.
However, if Ethereum once again fails to hold above this level, the price could retreat to lower supports. Pillows identified the $4,200 – $4,400 range as the primary demand zone where buyers could step back in. This area has historically provided strong support and could act as a springboard for another attempt to retest the resistance. ETH Rejected At $4,650 But Holds Support
In a follow-up analysis, Pillows notedthat Ethereum failed to reclaim the $4,650 level, making its path to reach the $4,880 resistance even more difficult. The rejection at $4,650 has raised concerns of a near-term pullback, with the $4,500 region now being the key support to watch. Related Reading Ethereum Exchange Balance Turns Negative For The First Time – Why This Is Bullish For Price 1 week ago
If ETH holds above $4,500 and gains fresh bullish momentum, Pillows suggests that another attempt at reclaiming $4,650 could occur, potentially setting the stage for the long-awaited $4,880 breakout. On the downside, Ethereum maintainsstrong structural support between $3,800 and $4,000. This range has acted as a crucial demand zone during past corrections, absorbing selling pressureand enabling bulls to re-accumulate.
For longer-term investors, Pillows noted that this support zone presents a significant buy-dip opportunity. He said that if ETH declines to this level, many altcoins would also enter attractive discount zones, presenting broader accumulation opportunities across the market. ETH trading at $4,511 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com