ETH smashes resistance, next target: $5,000

As matters have started to take a more positive turn for the majority of assets in the cryptocurrency market, Ethereum (ETH) might be looking at a new all-time high (ATH) of $5,000, mere weeks after breaking its previous record.

Specifically, Ethereum bulls have broken through a major resistance barrier at $4,500, igniting fresh momentum that could propel the second-largest asset in the crypto industry by market capitalization toward $5,000 in the coming weeks, per the analysis by crypto expert Ali Martinez shared on September 12.

This is in line with his previous observations that $4,500 was the key resistance for Ethereum, and that breaking it would send ETH towards its next target at $5,000 in the near future.

Indeed, on the 4-hour chart, ETH cleared the stubborn resistance at $4,500, a level that had repeatedly rejected price attempts throughout early September. As Martinez highlighted, the next resistance zones are sitting near $4,660 and $4,725. A decisive move beyond them could open the gates for a rally to $5,000.

From a broader perspective, the weekly chart underscores just how strong this breakout could be. After months of accumulation and liquidity sweeps, ETH has reclaimed momentum and established $3,940 as a key support area. This zone now serves as a buffer for bulls, offering a healthy base from which Ethereum can continue building its uptrend.

Not just a short-term trend

Meanwhile, fellow crypto expert Michaël van de Poppe noted that this breakout was more than just a short-term push. According to him, it signals the continuation of Ethereum’s broader bullish trend. He emphasized that liquidity has already cleared from key zones, leaving little overhead resistance until ETH approaches new highs.

At press time, ETH was changing hands at the price of $4,527.33, indicating an increase of 2.02% in the last 24 hours, a 2.37% advance across the previous seven days, as it moves to erase the losses of 3.25% on its monthly chart, according to the latest data.

All things considered, ETH’s breakout above $4,500 marks the beginning of its next major leg up. If momentum holds, $5,000 could come into play sooner than many expect, and perhaps predictions of $7,000 by the end of the year could come true.