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Ethereum Briefly Hits Two-Week High of $4,500: What's Next?
Ethereum briefly climbed to a two-week high of $4,500 on Thursday, extending a strong quarterly performance even as traditional markets navigated significant volatility.
The world's second-largest cryptocurrency by market capitalization is up 1.6% over the last 24 hours, per CoinGecko data. Despite it being considered one of the most bearish quarters, Ethereum closed Q3 with an outsized return of 74%, according to CoinGlass data, while posting a 34% gain for the year.
Unlike U.S. equities & gold, the broader crypto market is experiencing a sharp uptick in buying pressure amid the U.S. government shutdown, resulting in nearly 6% and 8% uptrends for the top two cryptocurrencies.
Ethereum Price Analysis: Can ETH Push Past Last Resistance Before $5K Target?
Ethereum has rebounded strongly from late September lows and is now pressing back toward key resistance levels. The recent move has shifted momentum, but overbought conditions and supply zones could bring short-term challenges.Technical Analysis
On the daily chart, ETH is trading above $4,500 inside its broader ascending channel. The asset reclaimed the $4,000 support area and pushed higher, but it’s now approaching the $4,800 resistance zone that capped previous rallies.
The RSI stands around 57, still in neutral territory, showing there’s room for continuation if momentum persists. Holding above $4,000 maintains the broader bullish structure, while a daily close above $4,800 would mark a major breakout toward new all-time highs above $ 5,000.
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