Ethereum Price Eyes $4,700 as Bullish Momentum Builds

Ethereum (ETH) appears to be building strong upside momentum on the daily chart, with technical indicators turning increasingly positive and buy-side liquidity showing notable strength near the $4,680 mark. 

Traders are now watching whether ETH can sustain its recent breakout attempt and overcome key resistance barriers around $4,700 and $4,749.

Ethereum’s Uptrend Strengthens

ETH has posted consistent gains over recent sessions, with closing prices pushing steadily higher. Both the 9-day and 20-day exponential moving averages (EMAs) have begun to slope upward, reflecting renewed bullish momentum and a potential transition into a more defined uptrend. 

Daily chart for WETH/USD (Source: GeckoTerminal)

The 9 EMA crossing and maintaining distance above the 20 EMA typically signals that short-term momentum is accelerating faster than the broader trend—a classic confirmation of bullish continuation.

MACD and RSI Indicate Growing Confidence

Momentum indicators are showing further strength for Ethereum. The MACD line has moved decisively above its signal line, and the widening histogram suggests that bullish momentum is expanding. This reinforces the case for an extended rally, particularly if ETH can sustain buying volume near current levels. 

Meanwhile, the Relative Strength Index (RSI) remains in the low 60s—suggesting growing buying pressure, but not yet overbought territory. This means there’s still room for ETH to push higher before facing significant exhaustion.

Order Book Signals and Near-Term Barriers

The Ethereum order book data reveals strong demand around $4,674–$4,689, where several bid walls cluster. The largest of these sits at $4,689.98, representing roughly 111 ETH worth over $519,000, providing a strong cushion against immediate downside. If this level were to fail, the price would only slip by about 0.01%, suggesting healthy market depth and confidence among buyers.

On the upside, sellers are concentrated near $4,690–$4,700, with notable ask walls at $4,695.62 and $4,700.00 totaling more than $1.1 million in sell orders. Breaking through this resistance band could trigger a short burst higher toward $4,712 and $4,749, where the next resistance levels align with historical price ceilings. Clearing these could open the door to $4,832, marking the next significant upside target.

Key Levels to Watch

Should buying momentum falter, ETH has strong technical support around $4,273, which aligns closely with the 20 EMA trendline. 

Further weakness could expose $4,075 and $3,874—levels that have historically attracted long-term buyers and represent solid risk-reward zones for swing traders looking to accumulate.

For bullish traders, potential long entries could be considered near $4,670–$4,690, targeting a breakout above $4,712–$4,749 with a stop-loss below $4,600. Conversely, short-term bears might eye short opportunities if ETH fails to clear $4,700 convincingly, aiming for pullbacks toward $4,500–$4,480 while maintaining tight risk controls given the strong underlying uptrend.

Outlook

Overall, Ethereum’s technical landscape favors the bulls. 

With rising EMAs, a strengthening MACD, and a firm RSI reading that leaves room for additional upside, ETH appears poised to test the $4,700 threshold. A decisive breakout above this zone could shift market sentiment toward the next resistance cluster at $4,832, while a failure to hold above the current bid walls could prompt a brief consolidation before the next leg higher.

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