Ethereum Price Prediction: $4,200 Attack and Defense Battle Under the Resonance of Technical and Market Sentiment

• Technical Indicator Divergence: Price is below the 20-day moving average, but MACD remains bullish, requiring observation of the breakthrough at $2,516 midline
• Whale Movement: A single large buy order exceeding $13 million indicates accumulation by major investors
• Geopolitical Premium: Ceasefire agreement reduces risk asset hedging needs, funds flowing back to crypto market

ETH Price Prediction

Ethereum Technical Analysis: Short-term Pullback Pressure and Long-term Breakthrough Potential Coexist

According to BTCC financial analyst James's technical analysis, ETH's current price of 2397.32 USDT is below the 20-day moving average of 2516.60, indicating short-term pullback pressure. The MACD indicator (115.81/47.70) maintains a golden cross but with weakening momentum, with the Bollinger Band midline at 2516.60 forming a critical resistance level. If the midline is broken, the upper band at 2794.24 will become the next target.

Market Sentiment Warming: Whale Accumulation and Geopolitical Factors Boost ETH

BTCC analyst James points out that Ethereum's single-day increase of 8% combined with a whale's $13.88 million purchase of 6,037 ETH reflects institutional buying. The technical pattern's expected breakthrough above $4,204 and the crypto market's optimistic interpretation of the ceasefire agreement create a dual positive outlook of technical and news factors.

Key Factors Affecting ETH Price

Ethereum Brewing Breakthrough Above $4,204 Key Level, Technical Pattern Shows Bullish Signal

Ethereum has experienced significant volatility, briefly falling below $2,500 and testing the $2,200 support level. However, technical indicators suggest a potential rebound. The weekly chart shows a "cup and handle pattern" - a classic bullish signal indicating upward momentum.

Analyst Rose Premium Signals notes that ETH's consolidation phase may signal a sharp rise. The $2,600 neckline resistance is crucial. If broken, the pattern's target price is around $4,204, reflecting Ethereum's resilience through market fluctuations.

Ethereum Surges 8% as Ceasefire Agreement Boosts Crypto Market Sentiment

Ethereum (ETH) surged 8.61% to $2,420 in the past 24 hours after former US President Donald Trump announced a ceasefire between Israel and Iran. This unexpected diplomatic breakthrough eased market tensions, reignited risk appetite, and triggered a broad cryptocurrency rally led by Ethereum.

Trump revealed a phased de-escalation plan on Truth Social, indicating an initial 12-hour ceasefire by Iran, followed by Israel's compliance, ultimately achieving a 24-hour comprehensive ceasefire. The agreement avoids long-term conflict, with Trump praising both countries' restraint.

High-beta assets like ETH are seeing accelerated bullish momentum, aided by whale accumulation before the rebound. On-chain data shows large investors absorbed over $265 million worth of Ethereum during the recent downturn, with one address purchasing 47,070 ETH ($113 million) in three days.

Network fundamentals strengthened this rally. Since mid-May, weekly new wallet creation reached 1 million, a 50% year-on-year increase, while reduced volatility focuses traders on the $2,500 breakthrough point. ETH surged from $2,230 to $2,401 within 24 hours, with concentrated buying at the $2,400 level.

Whale Buys 6,037 ETH in Significant On-chain Transaction Worth $13.88 Million

A significant Ethereum transaction caught market attention, with an unidentified whale buying 6,037.24 ETH on-chain five hours ago. The purchase was at an average price of $2,299 per ETH, representing a $13.88 million investment in this second-largest cryptocurrency.

Blockchain analyst Ai (@ai_9684xtpa) reported that as ETH price rises, this position has gained $690,000. Such large-scale accumulation typically signals institutional investors or high-net-worth individuals positioning for expected price movements.

How High Can ETH Price Go?

Combining technical indicators and market sentiment, ETH will likely oscillate in the $2,239-$2,794 range short-term. Breaking the 20-day moving average of $2,516 could lead to testing the historical high of $4,204. Key data comparison table follows:

James believes the current combination of 'whale accumulation + technical repair' increases the probability of breaking $4,200 to 65%, but warns that losing the $2,239 support could trigger a deep pullback.