Ethereum Targets $4,811 and Beyond: Can It Hit $8,550 Next?

• Ethereum broke a long-standing resistance trendline in late 2022, surging 234% before retracing to current levels.
• A 47% increase could push Ethereum to $4,811.71, with the potential to exceed $8,550 for a 2.61X gain.
• Sustained strength above the broken trendline indicates market confidence and potential for higher price targets.

Ethereum’s price trajectory suggests the potential for a significant upward move, with targets of $4,811.71 and $8,550 in focus. The asset continues to hold strong above an older resistance trendline it broke in late 2022. Following the breakout, Ethereum surged over 234% before pulling back to current levels. Analysts indicate that the next leg of the rally could bring substantial gains.

Javon Marks’s analysis indicates that Ethereum broke through a long-standing resistance trendline in late 2022, marking a turning point in its price action. After the breakout, prices climbed significantly, rising by approximately 234%. This movement established new price levels and reinforced Ethereum’s bullish potential. The breakout, followed by sustained support at higher levels, signals increased market strength.

Ethereum’s current technical setup positions the $4,811.71 level as a key target. Reaching this level would require an additional 47% increase from current prices. The market has demonstrated resilience, maintaining levels well above the previous resistance. Analysts are closely monitoring Ethereum’s ability to sustain its momentum as it approaches this crucial target.

With additional strength observed in Ethereum’s market activity, the possibility of surpassing the $4,811.71 target is becoming a focal point. If this level is broken, the next significant target could bring Ethereum’s price above $8,550. Such a move would represent a gain of over 2.61X from its current value. Historical price action and current market conditions point to this scenario as a feasible outcome.
The sustained strength above the broken trendline and the move toward higher targets suggest growing confidence among market participants. Ethereum’s price developments could reshape its support and resistance levels, influencing future trading activity. Traders are closely monitoring key resistance zones and market dynamics to assess the likelihood of reaching these ambitious targets.