Ethereum has surged past the critical $4,000 resistance level, achieving a price point of $4,211.
This move represents a significant technical breakthrough, having faced multiple rejections at this psychologically important barrier since 2021. The current price reflects a notable 20.44% gain.
Market analysts now suggest that sustained closes above the $4,000 threshold could open the door for significant further gains.
Near-term price targets are identified in the $6,000 to $7,000 range.
Beyond those levels, some analysts see long-term potential for Ethereum reaching as high as $11,000.
However, risks remain. A failure to maintain the price above the $4,000 support level could lead to a pullback into the $3,500 to $3,750 price range.
The breach of $4,000 is widely viewed as a pivotal technical moment, potentially turning this former resistance level into solid support if bullish momentum persists.
Institutional buying pressure and the market’s ability to hold key technical levels are highlighted by analysts as crucial factors to monitor for determining Ethereum’s next directional move.