Ethereum (ETH) has surged by approximately 9% in a week, reaching the $4,400 (approximately 61.16 million won) level. However, market experts predict that the upcoming breakout of a key resistance level could be a watershed moment for the future rally. Some chart analysts believe this is the starting point of a medium- to long-term bull market, and they are optimistic that the price could head towards the $10,000 (approximately 139 million won) level.
Cryptocurrency analyst Ali Martinez has identified $4,505 (approximately 62.61 million won) as a key resistance level facing Ethereum. According to data from on-chain data provider Glassnode, 1.75 million ETH, or approximately 2.25% of the total circulating supply, last moved below this level, suggesting significant short-term selling pressure. There are also concerns that failure to break above this level could lead to a repeat of past resistance patterns.
Technically, Ethereum is drawing attention for signaling a breakout of the "cup-and-handle" pattern after a three-year correction. Merlijn The Trader, a trader, believes this pattern forms the basis for a long-term uptrend, stating, "Ethereum's next target is the five-digit price range." The chart, which began in 2022 and completed with a handle in early 2025, is drawing market attention as the recent upward breakout could be a directional signal.
A similar outlook stems from similarities with past market cycles. Analyst EtherNasyonaL explains that Ethereum is following a similar pattern to the two previous bull markets (2016–2017 and 2019–2021). He argues that Ethereum has consistently broken through key resistance levels, converted them into support, and launched a sharp upward trend. He argues that the same pattern is currently repeating itself. He emphasized, "Ethereum has shown nearly identical patterns in all three market cycles."
Ethereum's relative strength against Bitcoin (BTC) is also a point of interest. Analyst Michaël van de Poppe noted that the ETH/BTC rate has recently corrected and is hovering near its lower support level, suggesting that "the foundation for an altcoin bull market is being laid." The fact that altcoins typically follow Bitcoin's recovery with a strong upward trend is also interpreted as a positive signal for Ethereum investors.
Overall, Ethereum is signaling a bullish cycle based on technical indicators, market structure, and historical patterns. However, traders are focusing on the direction of its next move, as a short-term correction could be inevitable if it fails to break above the $4,505 resistance level.
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