Ethereum Price Analysis: ETH Targets $4K Following 25% Weekly Gains

Key Points

1. ETH has broken through the $2,800 and $3,400 resistance levels, showing strong bullish structure.

2. The 100 and 200-day moving averages are nearing a bullish crossover near $2,500, acting as dynamic support.

3. ETH has entered a major supply zone between $3,700 and $4,100, with the next target at $4,107.

4. Buyers should be cautious of potential profit-taking, especially if the price stalls around the $3,800–$4,100 zone.

5. On the 4H timeframe, ETH shows signs of weakening RSI divergence, which could indicate a local top forming.

6. A break below $3,500 could trigger a pullback to the $3,200 support zone.

7. Open Interest (OI) has surged to multi-year highs, indicating strong bullish sentiment but also increased risk of liquidations.