After weeks of sideways trading, Ethereum has come back to life with a sharp price increase. Currently, ETH reached $4752, targeting the $4800 level.
ETH Price Surge
Over the last 24 hours, Ethereum's price increased by **12.47%**, reaffirming the bullish sentiment. This increase was backed by strong support at the key level of **$4200**, which prevented the price from falling further.
Forecast and Technical Analysis
The chart shows that ETH broke through a descending resistance line, confirming a bullish breakout pattern. Support levels are at **$4356** and **$4200**. A breakout above **$4800** will open the path to **$5000**.
Future of Ethereum and Potential Risks
Maintaining support at **$4800** will be crucial for moving towards **$5000**. If the price fails to breach **$4800**, a correction back to **$4356** or **$4200** may occur.
Ethereum is confidently moving towards new heights, but breaking the **$4800** level will be key for reaching **$5000**.
