Ethereum Surges 65%: Analysts Suggest Potential Targets of $4,500 and Beyond Amid Strong Market Momentum

Key Points

1. Ethereum broke key resistance levels, with immediate resistance identified at $4,200-$4,214 and further barriers at $4,500 and $5,000.

2. Support levels are found around $3,800-$3,600, where prior consolidation occurred.

3. Analysts, including Michael van de Poppe and Captain Faibik, attribute the rally to strong market momentum and a breakout from a multi-year ascending triangle.

4. The breakout projects a long-term target of $12,000, with intermediate resistance zones at $6,600 and $8,900.

5. Sustained monthly closes above $4,300 could confirm the breakout, while a drop below $4,000 risks a retest of the $2,500-$3,000 support range.