Ethereum (ETH) Price Breaks Downtrend: Is $5,000 Next?

Ethereum has just pulled off something that traders have been waiting to see – a clean break above the downtrend that had been keeping it under pressure. After weeks of testing lower levels, ETH finally found its footing and is now looking up toward some exciting price targets. This technical breakthrough could be exactly what the bulls needed to kickstart the next phase of upward momentum.

Ethereum Price Breakout Gains Momentum

Ethereum just delivered a solid breakout from its recent downward trend. After multiple attempts to push lower, the market finally flipped bullish and turned $4,500 into solid support. This move has traders feeling optimistic again, with many thinking the next rally could be even stronger than expected.

Popular analyst @tunakaya_yk noted that ETH breaking out of its falling pattern puts the market in a great spot for another move higher. His analysis shows that staying above $4,500 keeps the buyers in control, while the next hurdles sit around $4,869 and that big round number at $5,000.

If Ethereum can keep this momentum going, we might see these levels tested much sooner than many people think.

ETH Price Levels to Watch

Support: $4,500 is the line in the sand. If this breaks, ETH could drop back to $4,309 or even $4,023.

Resistance: The immediate challenge is at $4,869, with $5,000 being the main target everyone’s watching.

The RSI is bouncing back above 58, showing that buying interest is returning. As long as ETH stays in its upward channel from earlier this year, the bigger picture still looks good for long-term holders.