Ethereum (ETH) has witnessed a significant price surge of approximately 65% over the past month, capturing significant market attention. Technical analysts are now forecasting potential upside targets reaching $4,500 and even $12,000 should the current bullish momentum be sustained.
The cryptocurrency recently surpassed crucial resistance levels, with immediate resistance currently identified in the $4,200 to $4,214 range. Further significant barriers are seen at $4,500 and $5,000.
Support levels providing potential floors for pullbacks are located near the $3,800 to $3,600 zone, an area where prior consolidation activity took place.
Prominent analysts, including Michael van de Poppe and Captain Faibik, have underscored the strength of the rally. They attribute the surge primarily to powerful market momentum and a decisive breakout from a multi-year ascending triangle technical pattern.
This breakout signals a substantially bullish long-term outlook. Based on the pattern’s measured move, the projected technical target reaches approximately $12,000. Intermediate zones of expected resistance lie at $6,600 and $8,900 en route to that target.
The confirmation of a sustained breakout is considered contingent on Ethereum achieving monthly closes decisively above the $4,300 level. Conversely, analysts warn that a drop below $4,000 could trigger a deeper retest of support in the $2,500 to $3,000 range.