Ethereum Nears $5,000 as Bulls Face Key Resistance Levels

Ethereum (ETH) is currently trading just below the $4,700 mark after a strong surge that has reignited optimism across the cryptocurrency market. However, before ETH can realistically challenge the long-awaited $5,000 milestone, it must first overcome three major resistance levels that have repeatedly blocked upward momentum in recent months.

The first resistance is around $4,750, a price where Ethereum was previously rejected in early September. The second hurdle sits near $4,850, which marks the late July peak. The most critical barrier lies between $4,950 and $5,000, a psychological and technical ceiling where sellers have historically overpowered buyers. Breaking through these levels would confirm a strong bullish continuation, potentially paving the way for new all-time highs.

Despite this positive setup, Ethereum’s rally shows early signs of exhaustion. The broader market remains uncertain, particularly as Bitcoin struggles around $123,000, which could hinder ETH’s breakout potential. On the technical side, Ethereum continues to trade above both its 50-day and 100-day exponential moving averages (EMAs), indicating underlying strength and short-term support. Yet, without a notable rise in trading volume and market confidence, this recovery risks becoming another failed breakout attempt rather than a sustainable bull run.

In essence, Ethereum’s path to $5,000 is technically clear but fundamentally challenging. Unless buyers can decisively push through all three resistance zones, the market is likely to experience a short-term stall or mild pullback. As traders reassess momentum and appetite for higher risk, Ethereum’s performance in the coming days will be crucial in determining whether this recovery marks the start of a new bullish phase or simply another temporary rebound.