Ethereum is showing steady growth after reaching record levels this year. Price movements and large transactions indicate further growth potential.
Target Level of $6,500
Ethereum's current price is approximately $4,410, rising from the $1,850 level. Current forecasts suggest a potential climb to $6,500 before a possible correction. Resistance is expected in the $5,200–$6,000 range.
4-Hour Trendline and Support Level
On the 4-hour chart, ETH is trading near $4,446, relying on a rising trendline that has been in place since early August. The market structure is forming a wedge, with higher lows against resistance near $4,800. If the price holds, a rebound towards the $4,600–$4,800 range may occur.
Whale Activity and Its Market Impact
Recent whale activity supports positive expectations: a single address accumulated 17,836 ETH worth about $80 million within a 10-hour span. These transactions indicate a significant accumulation of assets even during temporary price declines.
Ethereum continues to show strong positions in the market, with forecasts pointing to potential growth and the activity of major investors supporting a positive trend.
