Ethereum Price Reclaims Key $4K Support: What’s Next?
Ethereum’s price has shown resilience by recapturing the psychologically significant support level of $4,000 after a brief breakdown. This recovery is supported by both technical confluence and strengthening on-chain data, giving dealers confidence that the bullish trend remains intact. The market structure continues to be bullish, with higher lows and higher highs forming since $2,400, indicating further upward potential.
The increase in daily on-chain transactions, which have exceeded 1.6 million, reinforces the long-term bullish impulse. Additionally, Bitcoin and Ethereum ETFs have attracted over $1 billion in inflows, further fueling optimism for a bullish October. As Ethereum continues to form higher lows and higher highs, another rotation based on the higher level is expected.
Ethereum Price Important Technical Points
Key support has been reclaimed at $4,000 after a short deviation, representing a significant technical development. This level not only represents an important psychological barrier but also matches the value area of Ethereum’s current trading range. The confluence of this region has enabled price actions to bounce back in the daily chart, closing convincingly above $4,000. This confirms demand from buyers and establishes the level as a high-time-frame support zone.
From a structural perspective, Ethereum has carved out an optimistic path since its swing low at $2,400. The market has consistently respected a pattern of higher lows and higher highs, a hallmark of a bullish impulse. This property strengthens the case for further upward trend as long as the $4,000 support remains intact. If buyers continue to defend this region, the price campaign opens up the likelihood of rotation to the next major resistance at $4,800, where the potential for impulse acceleration is even higher.
On-Chain Data and Market Structure
The status of Ethereum’s moving average values remains in optimistic alignment, offering dynamic support and signaling continued demand for ETH at current levels. The technical environment supports a continuation of the bullish structure on the whole. At the same time, Ethereum’s fundamental data gives weight to the bullish outlook, with network transactions increasing consistently over the past few months.
Ethereum’s daily transaction count has exceeded 1.6 million, showing active demand for Ethereum’s ecosystem and supporting the argument that health and price action for the chain are aligned. If the basics and technical data converge, the case for continuing the prevailing trend becomes stronger.
What to Expect in the Upcoming Price Campaign
If Ethereum continues to hold above $4,000, the bullish trend should extend to $4,800 as the next great resistance. The continued growth of on-chain transactions will further fuel the dynamics, while failure to maintain $4,000 could weaken the bullish case. As the market continues to evolve, it’s essential to keep a close eye on both technical and fundamental developments to gauge the future direction of Ethereum’s price.
For more information and updates on Ethereum’s price, visit https://crypto.news/heres-why-ethereum-price-reclaimed-key-4k-support/
