Ethereum Faces Crucial Weekly Resistance – Analyst Aims for $4K Target if ETH Surges Past It

Ethereum is gaining traction in the cryptocurrency market as Bitcoin stabilizes near its historical peak. After trailing behind Bitcoin for several months, ETH is experiencing a robust surge, with bullish forces driving it toward the pivotal $2,800 resistance level. This threshold has consistently limited upward movement since early February and is now a crucial point for Ethereum’s forthcoming advancement.

Market psychology has evolved as Ethereum demonstrates potential to regain its leading role, fueled by renewed demand in the spot market and improved technical indicators. Noted analyst Ted Pillows has commented on this upward trend, highlighting the critical nature of the $2,850 level. Pillows suggests that overcoming this barrier might facilitate a significant advance towards $3,000 and higher.

Build-up momentum has been observable in recent weeks, and ETH’s ability to maintain strength against broader economic pressures reinforces investor confidence. Should bulls succeed in converting this resistance to support, it could signal the onset of a broader rally among altcoins. Presently, focus shifts to Ethereum as it approaches a breakout that might redefine market trends as June approaches.

Ethereum Prepares for Potential Growth Amid Global Changes

Ethereum is gearing up for a possible expansion as both technical signs and market sentiment are aligning favorably. After a period of stabilization and consistent growth, ETH is now probing the $2,850 resistance level—a point that has constrained price since February. The current scenario indicates that Ethereum is regaining momentum and may spearhead the next phase of the cryptocurrency surge.

As the cryptocurrency landscape gains momentum, larger economic factors are influencing investor decisions. A recent ruling by a U.S. Federal court that invalidated tariffs imposed by the previous administration has introduced new uncertainties into global markets. This shift in policy could create volatility in traditional finance as trade relations evolve and new fiscal strategies emerge.

Despite these uncertainties, Ethereum appears to be flourishing. There is a growing belief that cryptocurrencies like ETH could thrive even in constrained economic conditions, a view supported by the current price movements. ETH demonstrates resilience, backed by increasing demand, a bullish framework, and reinforcing investor confidence.

Pillows noted that if Ethereum successfully re-establishes the $2,850 level in the near term, a swift advance to $4,000 could be on the horizon. This breakthrough would signify a major shift and likely trigger a wave of investment from Bitcoin and stablecoins into altcoins.

Currently, ETH is hovering below a critical breakout point. A decisive push above this resistance would validate the beginning of a growth phase that could transform the broader market, establishing Ethereum as a key player in the upcoming cycle.

ETH Recaptures Key Weekly Levels

Ethereum is demonstrating robust performance on the weekly chart, currently positioned at $2,728.36 after peaking at $2,789.50. This price movement signifies a strong recovery from recent lows around $1,600 and confirms the establishment of a robust uptrend. ETH has reclaimed the 34-week EMA at $2,511.42 while surpassing the 100-week SMA at $2,605.71. These moving averages now serve as dynamic support, enhancing positive sentiment.

The next critical point to monitor is the 50-week SMA, situated at $2,729.64, slightly above the current pricing. A confirmed weekly close above this level would mark the first time ETH has sustained strength beyond it since late 2023, potentially paving the way for a push towards the $3,200–$3,600 range, with $4,000 in view if momentum continues to build.

Volume has increased with this recent upward move, indicating healthy buyer participation. Historically, recoveries from significant moving average clusters have often preceded substantial price increases in Ethereum.

As long as ETH upholds this framework and closes the week above $2,700, bullish sentiment is likely to prevail. The breakout above $2,850, last defended in early 2024, stands as the remaining hurdle before Ethereum can aim for previous cycle highs.