Ethereum Reclaims $4,600 After Multiple Rejections as Traders Eye Possible Breakout Above $4,650

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Ethereum price has rebounded to $4,604 with a 2.3% 24-hour gain and roughly 15% weekly rise. Traders are watching a decisive resistance zone at $4,650–$4,700; a clean breakout could push ETH toward $4,900–$5,000, while a rejection may retest support near $4,200.

Key resistance: $4,650–$4,700 — tested four times
Market cap ≈ $556 billion; 24h volume > $35 billion.
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Liquidations: $53M wiped out in 24h; shorts ~$37M, signaling easing bearish pressure.

Ethereum price rebounds to $4,604; traders eye breakout above $4,650. Read concise analysis of resistance, liquidity data, staking trends, and likely targets.

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What is driving Ethereum’s rebound to $4,600?

Ethereum price climbed back to $4,604 after a 2.3% 24-hour gain, supported by rising on-chain staking and falling bearish leverage. Liquidity data showing $53 million in recent liquidations and higher lows since mid-September indicate strengthening buyer conviction.

How likely is a breakout above $4,650?

ETH has tested the same descending trendline four times without a clean close above it, creating a critical resistance at $4,650–$4,700. If ETH closes decisively above this zone with elevated volume, momentum typically accelerates toward the $4,900–$5,000 range.

Conversely, failure to hold above the channel could prompt a pullback to support near $4,200. Current RSI near 60 suggests healthy momentum without overextension, so watch volume and trendline confirmations closely.

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When did the recent price move and liquidations occur?

Over the past 24 hours ETH rose 2.3% to $4,604 and saw about $53 million in leveraged liquidations. Short positions accounted for approximately $37 million of that total, indicating short-squeeze dynamics helped the rebound.

What on-chain and technical signals matter now?

Key on-chain signals: rising staking participation and reduced short liquidity. Technicals: higher lows since mid-September and RSI near 60. Together, these suggest buyer accumulation with manageable momentum.

Comparison: Key Levels and Metrics

Metric	Value
Current price	$4,604
Market cap	≈ $556 billion
24h volume	> $35 billion
Immediate resistance	$4,650–$4,700
Upside target on breakout	$4,900–$5,000
Support on failure	≈ $4,200

Frequently Asked Questions

How did liquidations affect the recent price move?

Large liquidations—about $53M in 24 hours—likely accelerated the short-term rally. Short liquidation of roughly $37M suggests short-covering boosted upward pressure, reducing bearish liquidity.

Will the Fusaka upgrade influence price action?

The Fusaka upgrade scheduled for December and rising staking participation are supportive long-term catalysts. These fundamentals can underpin bullish sentiment but do not guarantee short-term breakout success.

What should traders watch next?

Traders should watch for a daily close above $4,650 with volume confirmation, RSI trajectory, and on-chain staking trends to validate a sustained breakout versus a false rejection.

Key Takeaways

Resistance tested: ETH has attempted the descending trendline four times; $4,650–$4,700 is critical.
Liquidity shift: $53M liquidated in 24h, shorts accounting for $37M, easing bearish pressure.
Actionable step: Seek a daily close above resistance with rising volume before assuming breakout continuation.

Conclusion

Ethereum’s reclaim of $4,600 reflects rising buying interest and reduced short liquidity, but the $4,650–$4,700 zone remains decisive. Monitor daily closes, volume, and on-chain staking metrics for confirmation. Published by COINOTAG on 2025-10-05; follow COINOTAG for timely market updates.

Author: Alexander Stefanov — Reporter, COINOTAG

Published: 5 October 2025 | 11:17 (UTC)

What is driving Ethereum’s rebound to $4,600?

How likely is a breakout above $4,650?

When did the recent price move and liquidations occur?

What on-chain and technical signals matter now?

Comparison: Key Levels and Metrics

Frequently Asked Questions

How did liquidations affect the recent price move?

Will the Fusaka upgrade influence price action?

What should traders watch next?

Key Takeaways

Conclusion

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