Ethereum continues its impressive rally, pushing closer to its all-time high. After breaking through the crucial $4.5K level, the market shows strong potential for a move toward the $4.8K threshold, fueled by technical and on-chain factors.

Technical Analysis

By ShayanMarkets

The Daily Chart

ETH has entered a powerful impulsive rally, signaling robust demand and renewed investor optimism. Substantial inflows into ETH ETFs have strengthened this upward move, reinforcing bullish sentiment. The asset has reclaimed two major resistance levels at $4,000 and $4,500, and is now approaching the critical $4,800 ATH, a level that could confirm buyers’ determination to set a new record high.

While the trend remains firmly bullish, the sharp nature of this advance leaves room for a short-term pullback or consolidation before another breakout. In such a scenario, the upward trendline, aligned with the $4,000 support zone, would serve as the first defensive barrier against any correction.

The 4-Hour Chart

On the lower timeframe, Ethereum maintains a clean bullish market structure, trading inside a defined ascending channel and consistently printing higher highs and higher lows. The breakout above $4,000 originated from renewed demand near the $3,300 trendline, sparking sustained buying pressure and an aggressive rally.

As price nears the $4,800 ATH, buying activity remains elevated, but the market may be entering overheated territory. This could trigger a short-term corrective phase before continuation. However, if the bulls secure a decisive break above $4,800, it would likely pave the way for an impulsive move toward the psychological $5,000 mark.

Sentiment Analysis

By ShayanMarkets

The Ethereum Perpetual Futures Liquidation Heatmap shows dense liquidity clusters that could guide the next major price swing. Bright zones highlight areas with high concentrations of leveraged positions vulnerable to liquidation.

Currently, no significant liquidity barriers are positioned above the current price, suggesting a relatively clear path for a push beyond the $4,800 ATH. On the downside, key long-side liquidity pools sit below $4,200, with deeper clusters around $3,600–$3,650. Losing $4,200 could trigger a cascade toward $3,950, and potentially as low as $3,600.

With limited resistance ahead, market conditions favor continued bullish momentum, but traders should watch these liquidity pockets closely for potential traps or rapid momentum squeezes.

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Cryptocurrency charts by TradingView.