Analyst Says ‘$ETH Is on Edge of Having a New All-Time High North of $5,000’

Ether (ETH) experienced a surge in trading volume, pushing its price higher before facing a rejection near the upper band. This resulted in a tighter trading range with clear support and resistance levels to watch out for.

Crypto analyst Michaël van de Poppe recently commented that Ethereum is the best ecosystem to invest in and predicted that ether is on the verge of reaching a new all-time high above $5,000. He highlighted the strong developer activity, products, and network effects within the Ethereum ecosystem, suggesting that the price is showing signs of strength similar to previous record-breaking levels.

Looking at the technical analysis data, buyers have been active in pushing the price higher, but sellers are currently defending the $3,860–$3,880 range. To break into new record territory, buyers need to reclaim $3,880 and sustain a move above the $3,887.35 session high, indicating a shift in control towards the buyers at the upper end of the current range.

Key technical analysis highlights include a 1.50% increase in ETH price to $3,822.60, a notable 19.01% increase in trading volume compared to the seven-day average, and a deviation from the CoinDesk 5 Index of -0.06%. The intraday price range fluctuated between $3,771.27 and $3,822.78, with momentum peaking at 2 p.m. UTC with 446.7K volume.

Support and resistance levels to watch include the $3,680–$3,720 zone as support and the $3,860–$3,880 band as resistance. The near-term trading range is clustered between $3,730–$3,880, with a focus on reclaiming $3,880 to target the $3,887.35 high.

Overall, the volume picture shows meaningful participation, with strong bullish prints during the advance and supply crowding the ceiling late into the session. The patterns suggest an uptrend with caution flags due to sellers’ activity near the top of the range, highlighting the importance of a clean break above $3,880 for further upside potential.

In conclusion, traders are advised to monitor the $3,730–$3,880 range closely for a breakout confirmation before taking significant trading positions. The CoinDesk 5 Index context also indicates a range and turn scenario, with profit-taking observed near resistance levels across major cryptocurrencies. The Benefits of Exercising Outdoors

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