Can Ethereum Reach $4,800?

Ethereum’s price action across multiple timeframes underscores a broad-based bullish momentum. On the daily chart, ETH has carved a consistent series of higher highs and higher lows since mid-June, with the most recent leg pushing price decisively above $3,300 resistance and accelerating toward the $3,800 zone. Volume has trended upward on up-days, reinforcing the strength of buyers and signaling conviction in this rally.

Zooming into the hourly timeframe, yesterday’s breakout from an ascending triangle confirms a classic continuation pattern. The upper trendline, tested multiple times around $3,780, finally gave way on a surge in volume, suggesting further upside potential. Measured from the base of the triangle near $3,500, the pattern projects a minimum target of approximately $3,960—aligned with our first key zone.

Beyond this threshold, two additional levels stand out. The area between $4,100 and $4,150 corresponds to the 61.8 percent retracement of the March–May decline and overlaps prior consolidation in April. A sustained move above that barrier could clear the path to $4,250, the 78.6 percent Fibonacci retracement and a psychological pivot. Notably, on-chain data from Glassnode shows that bullish network demand has steadily increased, with active addresses climbing alongside rising open interest in ETH futures—further evidence that institutional participants are siding with this uptrend.

Looking north of $4,250, the extension toward $4,500 would require a fresh influx of buying, but is by no means out of reach if market sentiment remains supportive. Achieving $4,800 would imply a roughly 25 percent advance from current levels and would likely hinge on continued strength in broader crypto markets, healthy macro liquidity conditions, and the upcoming Shanghai upgrade’s potential to unlock staked supply.

In summary, the technical landscape favors further gains for Ethereum. Key inflection points at $3,960, $4,100–$4,150, and $4,250 should guide entries and exits. A sustained break beyond $4,250 could set the stage for a run toward $4,800, provided volume and overall market conditions stay robust.

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