Key Insights:
- Ethereum rallies from $1,850 bottom, charts now show $6,500 target before possible consolidation.
- Whale wallet scoops up 17,836 ETH worth $80M, reducing exchange supply during recent dip.
- ETH defends 4H trendline support near $4,450, keeping momentum intact for next move above $4,800.
Ethereum is holding strong after reclaiming its all-time high earlier this year. Current price action and large transactions suggest the rally could extend, with projections pointing toward higher levels.
Chart Projections Point to $6,500
Ethereum is trading near $4,410 after climbing from the $1,850 bottom earlier this year. The move delivered a new record, meeting earlier forecasts for a recovery.
The latest projection shows a possible continuation toward $6,500 before a pullback phase. Resistance stands in the $5,200–$6,000 area, with $6,500 marked as the upper target.
Crypto King commented,
“eth was predicted to hit an ATH… but still the chart shows potential to run to 6500$ before a consolidation.”
The outlook also mentioned that Ethereum may need to reach about 25% market dominance to sustain such a move, highlighting the role of relative strength in the broader market.
4-Hour Trendline Signals Possible Rebound
On the 4-hour chart, ETH trades near $4,446, just above a rising trendline that has guided price since early August. The trendline has acted as support during repeated retests.
The structure forms a wedge, with higher lows building against resistance near $4,800. Price is currently sitting at the trendline support. Anup Dhungana wrote, “$ETH holding 4H trendline support at $4,450 — probably rebound ahead!” suggesting buyers may defend this level.
If price holds, ETH could rebound toward the $4,600–$4,800 zone. A breakout above $4,800 would open the way to $5,000. A breakdown below $4,450, however, could shift focus to the $3,800 support area.
Whale Accumulation Strengthens Outlook
Whale activity also supports the bullish case. A single address accumulated 17,836 ETH worth about $80 million within a 10-hour span.
The buying was split into three transfers from OKX hot wallets: 7,468 ETH ($33.25M), 6,500 ETH ($29.12M), and 3,868 ETH ($17.4M). All funds moved off-exchange into one wallet, signaling accumulation.
Conor Kenny noted,
“a mysterious whale scooped up 17,836 $ETH worth $80M. Buying the dip!”
Such moves reduce exchange supply and show large-scale demand even during short-term price declines.
Ethereum trades at $4,392.56 with daily volume at $30.33 billion. The token is down 3.85% in 24 hours but still up 2.21% over the week.
Traders now watch whether Ethereum can hold its support zones and push higher toward the $6,500 target.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/ethereum-rally-far-from-over/