Ethereum

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Rekt

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Ethereum (ETH), the second-largest cryptocurrency, has reached a significant milestone by touching $4,000, marking a two-year high and closing the gap towards its all-time high (ATH).&nbsp; 
As Bitcoin (BTC) also reached a new all-time high of $70,100, the cryptocurrency market is witnessing an explosive bull run. Technical analysis suggests that Ethereum is poised to overcome key resistance levels, positioning it closer to its previous all-time high of $4,878. 
<h2 id="ethereum-daily-chart-indicates-clear-path-to-4-400">Ethereum Daily Chart Indicates Clear Path To $4,400</h2> 
While Ethereum has not yet reached its previous all-time high, achieving the $4,000 mark represents notable progress for the cryptocurrency. The current price level reflects a 19% difference from its ATH, signaling the potential for further price appreciation amid the ongoing bullish trend. 
Technical analyst Rekt Capital <a href="https://x.com/rektcapital/status/1766104922959786374?s=20" target="_blank" rel="noopener nofollow">highlights </a>Ethereum’s strong price action, noting successful retests of the $3,500 support level. The cryptocurrency surged to $3,830 during this period, reinforcing the conviction of a potential breakthrough. Rekt Capital suggests that Ethereum is steadily approaching the red-red macro resistance range between $4,200 and $4,600, which would position it just below its previous ATH. 
Consolidating above the $4,000 mark presents an immediate challenge for Ethereum, as increased price volatility may hinder further upward movement. However, should this resistance be breached, the next hurdles are at $4,060 and $4,100.&nbsp; 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/56CjtgFj/" alt="Ethereum " width="1815" height="858"> 
Analysis of the ETH/USD daily chart indicates a clear path towards the $4,400 zone. Following these levels, the cryptocurrency would face additional resistance at $4,528, $4,629, and $4,731 before potentially retesting its all-time high. 
Overall, the next direction for Ethereum’s price remains uncertain as the possibility of a price correction looms. Such a correction could potentially threaten the gains made over the past year, which amount to an impressive 154%. However, given the long-term investment interest in the token, it remains well-positioned for near-term price gains. 
Featured image from Shutterstock, chart from TradingView.com

BREAKING: Ethereum (ETH) Breaks Two-Year Price Record, Surging Above $4,000

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