TL;DR

ETH tests a key resistance for the seventh time, signaling strong bullish pressure building. Bullish crossover on 10/20 SMAs historically led to rallies of 24% and 60% in ETH. Above $4,780 confirms strength; below $4,200 risks neutral trend shift, says MisterSpread.

Ethereum Faces Key Resistance Range

Ethereum (ETH) is trading close to a strong resistance zone between $3,750 and $4,950. This price range has been tested several times since 2021, but has not been cleared. A recent chart from Merlijn The Trader shows seven separate attempts to break above this level. Each time, the asset moved higher but was pushed back.

The latest move, marked as the seventh attempt, shows ETH approaching the top of the range with momentum. Repeated tests of the same level without a major drop often point to a build-up in buying pressure. Merlijn stated,

$ETH is pressing against its final ceiling.

One clean breakout… and it’s open skies.

Price discovery to $10K+ is on the table.

The rally won’t just be explosive. It will be historic. pic.twitter.com/LYRrNjbj6F

He added that price discovery above $5,000 could take ETH toward the $10,000 mark.

Moving Averages Signal Short-Term Strength

Trader Tardigrade shared a daily chart showing a bullish crossover between the 10-day and 20-day simple moving averages (SMA). This type of crossover has previously led to large price gains. In earlier instances on the chart, ETH gained about 60% and 24% after similar signals. The most recent crossover has formed just above $4,400.

$ETH/daily#Ethereum shows a bullish crossover on the 10 and 20 SMA.

Previously, such a crossover led to $ETH appreciating by +60% and +24%. pic.twitter.com/9CdQUW06zz

A crossover like this suggests that short-term momentum is in favor of buyers. If the price holds above both averages, ETH may continue to trend higher. While no fixed target is given, the current pattern supports the idea of further upside if support levels hold.

MisterSpread outlined two possible paths for ETH in the short term. In a bullish case, a move above $4,780 would continue the current uptrend of higher highs and higher lows. He described this area as key to keeping the structure intact.

If the asset drops and closes below $4,200 on the daily chart, the structure would shift to neutral. A close under $4,000 on the weekly chart could open up more downside risk. MisterSpread noted,

“This might be the next higher low… but we need to stay above $4,200.”

Current Price and Market Behavior

Ethereum was priced at around $4,500 at press time, with a 24-hour volume of $25.25 billion. The asset is down slightly on the day but up 3% over the past week.

As CryptoPotato reported, recent activity has shown less volatility. September trading on Binance has remained steady, without major changes in volume between spot and futures. The market appears to be waiting for a clear move, with attention now focused on whether ETH can close above its long-standing ceiling.