Technical indicators and trader sentiment suggest Ethereum may be gearing up for its next major leg higher, with a breakout above $4,900 potentially opening the path toward the $6,000 zone.

Ethereum Price Holds Steady as Bullish Momentum Builds

Ethereum is currently trading around $4,267, down 1.91% over the past 24 hours, according to Brave New Coin. The asset maintains a 24-hour trading volume of over $35 billion, reflecting steady market participation despite recent consolidation.

Ethereum rebounds from $4,100 support, building bullish momentum toward a potential $6,000 breakout. Source: @CryptoKing4Ever via X

Crypto analyst @CryptoKing4Ever shared a bullish outlook on X that “$ETH daily chart looks strong and ready for its next leg up. Price has bounced perfectly from the $4,100 zone along the uptrend line. Once it breaks above the $4,900 double top, the path to $6,000 opens up.”

The recent rebound confirms Ethereum’s ability to hold a critical technical floor, with analysts noting that sustained momentum above $4,400 could reinforce bullish sentiment ahead of the next resistance challenge near $4,900.

Ethereum’s Two-Month Consolidation Suggests Accumulation

Market analyst Donald Dean (@donaldjdean) highlighted Ethereum’s extended sideways movement since mid-August, describing the current setup as a classic accumulation pattern. “The longer the base, the bigger the move,” Dean commented, setting a price target of $5,766 once ETH exits its current consolidation range.

Ethereum consolidates above key support since mid-August, eyeing a breakout toward $4,955 and $5,766 as bullish momentum builds. Source: @donaldjdean via X

Ethereum continues to retest key support zones, including its volume shelf and ascending trendline, signaling accumulation among long-term holders. Historically, similar phases have preceded notable upside moves in ETH, with gains ranging between 50% and 100% following breakout confirmations.

Traders Call Recent Dip a “Bear Trap”

Popular trader @AltcoinGordon described Ethereum’s late-September pullback below $4,000 as one of the biggest “bear traps” of the current cycle. “Imagine selling $ETH after one of the biggest bear traps in history. Couldn’t be me,” he wrote, referencing previous shakeouts that were followed by strong recoveries.

Ethereum rebounds sharply after one of the biggest bear traps in recent history, catching sellers off guard. Source: @AltcoinGordon via X

The pattern aligns with Ethereum’s price rebound from below $4,000 to above $4,300 within two weeks, supported by rising network activity and sustained Ethereum staking participation. This bounce has reignited optimism among traders who see the dip as a setup for a larger uptrend heading into Q4.

Ethereum Price Prediction: Path Toward $6,000

Ethereum’s technical setup points to an imminent test of the $4,900 resistance level. A clean breakout above that zone could open the door to $5,766 and eventually $6,000, aligning with Fibonacci projections and prior market cycle structures.

Ethereum (ETH) was trading at around $4,267, down 1.91% in the last 24 hours at press time. Source: Ethereum Price via Brave New Coin

As long as ETH holds above the $4,100–$4,200 support region, the bullish trend remains intact. Key momentum indicators—including rising open interest and a steady increase in trading volume—support the view that Ethereum’s next move may favor the upside.