Ethereum Eyes $4,750 as Consolidation Phase Ends
Ethereum's price has reclaimed the $2,381 resistance level and is now consolidating between $2,381 and $2,515, a key horizontal range that may indicate accumulation before another directional move.
The crypto analyst Bitcoin Meraklisi notes that holding the lower boundary of this range would strengthen the bullish case and signal sustained buyer interest.
A confirmed breakout above $2,515 could trigger the next leg higher for Ethereum's price, with $2,750 emerging as the first upside objective. If momentum accelerates, the price could subsequently target $3,400 before potentially advancing toward the broader $4,750 region.
The Ethereum market is showing strong bullish recovery, with TradingView indicating a transition from steady consolidation into an explosive bullish breakout.