Ethereum (ETH) price prediction: If it breaks through the key resistance level of $4685, it may challenge $4800.

Ethereum's recent price has risen strongly, successfully breaking through $4700 and reaching a high of $4765, and is currently in a consolidation phase. Technical Analysis shows that ETH is gaining support above $4550, and if it can successfully break through the key resistance level of $4685, it is expected to start a new round of pump and challenge the price range above $4800.

ETH price strongly pumps and enters consolidation

After establishing a bottom in the 4350 USD region, the price of Ethereum has started a new pump, successfully breaking through the resistance levels of 4550 USD and 4650 USD. The price once climbed to a high of 4765 USD, then began to consolidate and slightly retreated below the 23.6% Fibonacci retracement level of the rise from 4268 USD to 4765 USD. In addition, a key bullish trend line with a support level at 4660 USD on the ETH/USD hourly chart has been broken. Currently, the price of Ethereum is trading above 4550 USD and above the 100-hour simple moving average.

Technical Analysis: Key Resistance and Support

(Source: TradingView)

• Resistance level: On the upside, the Ethereum price may encounter resistance around $4650. The next key resistance level is at $4685. If it can clearly break through the resistance level of $4700, the price may continue to pump to $4750, and even challenge the resistance zone of $4820 or $4880 in the short term.
• Support Level: On the downside, if Ethereum fails to break through the resistance at $4685, it may trigger a new round of decline. The initial support level is at $4550. The first major support level is near $4520, which aligns with the 50% Fibonacci retracement level of the upward segment from $4268 to $4765. If the price falls below $4520, it may further drop to $4420 or $4350.
• Technical Indicators: The MACD on the hourly chart is losing momentum in the bullish zone, while the RSI is currently below the 50 level.

Future Trend Outlook

Ethereum has entered a consolidation phase after experiencing a strong pump, which is often seen as a sign of market health. Although short-term Technical Analysis indicators show that momentum has weakened, as long as the price can hold the key support at 4550 and eventually break through the resistance level of 4685, its rise may continue. Conversely, if it falls below the important support, it could lead to further price correction. Investors need to closely monitor the dynamics of these two key levels.

Conclusion

Ethereum's strong performance in a short period demonstrates its robust market resilience, but it is currently at a critical crossroads. Whether it can continue to rise after consolidation depends on its ability to break through key technical resistance levels. This is both a test of market strength and an important signal for investors to gauge its short-term direction.