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Ethereum (ETH) has ripped through the $4,000 resistance in the past few days and currently sits at $4,700.
The top altcoin has delivered an impressive 28.4% in the past 7 days as short sellers seem to have been squeezed out of their positions as the token broke through what had been an important ceiling for more than 8 months.
As a result, ETH is now just 3.6% away from making a new all-time high, following Bitcoin’s footsteps this year despite the market’s skepticism.
It has been a remarkable recovery for the native asset of the Ethereum Virtual Machine (EVM). From a 2025 low of $1,400 to $4,700 in just a few months, those who predicted its recovery – or at least bought some of it at those depressed levels – have seen the value of their investment rise by more than 200%.
Ethereum Eyes $5,000 as Positive Momentum Builds Up
Trading volumes in the past 24 hours have jumped by 19% and currently sit at $62 billion, accounting for more than 10% of the token’s circulating supply.
In the past 7 days, nearly $830 million worth of short positions have been wiped out by the latest rally. This created strong buying pressure for the token as the asset had to be bought back to close these open positions.
The weekly chart shows how close Ethereum is to retest its current ATH at $4,891. Positive momentum has been steadily increasing as shown by the Relative Strength Index (RSI).
This indicator is about to enter overbought levels, indicating that the trend’s strength is at a high point. Even though this is a key resistance area to watch, market conditions favor a push to the $5,000 area.
The Pectra upgrade has improved the EVM’s operational framework and has made the network much more scalable and efficient than it was months ago. Moreover, the U.S. government has now adopted a pro-crypto stance that favors a bullish outlook for the entire market.
With these tailwinds blowing in its favor, ETH could soon enter uncharted territory.
As altcoin season kicks off, the best crypto presales of the year like Bitcoin Hyper (HYPER) and Maxi Doge (MAXI) could offer an even higher upside potential than well-established tokens like Ethereum.
Bitcoin Hyper (HYPER) Raises Nearly $9M to Launch its Solana-Based L2
Bitcoin Hyper (HYPER) will kickstart the beginning of a new era for BTCFi by introducing a powerful layer-2 chain through which BTC holders will be able to stake, earn yield, and lend their assets without leaving the Bitcoin network.
Through the Hyper Bridge, investors can safely send BTC to a designated wallet address in the Bitcoin blockchain and receive the corresponding amount of tokens in the Hyper L2. Once in there, they can make payments, mint meme coins, and access DeFi applications at a low cost.
Once top wallets and exchanges start to embrace this solution, the demand for its utility token $HYPER will skyrocket. To buy this token at its discounted presale price, simply head to the Bitcoin Hyper website and connect your wallet. You can swap SOL, USDT, or ETH for it or buy it with a bank card.
Maxi Doge (MAXI) Takes Over the Meme Coin Space by Storm with Its ‘Up Only’ Attitude
The presale event for Maxi Doge (MAXI) was recently launched and, in just a few days, it has already raised $830,000.
This dog-themed token embraces the ‘green only’ hype that typically comes alongside a crypto bull market.
A portion of the proceeds raised by the presale will be used to make leveraged bets on promising tokens. $MAXI’s goal is to get out of mom’s basement and this market is his best chance to achieve that.
No stop loss, no fear, no red candles allowed.
Visit Maxi Doge’s official website to buy this token before its next price increase. Connect your wallet and follow the instructions. Both crypto and fiat payments are supported.
