• ETH broke the large curve and is now holding $3816 with support areas between $3515 and $3248.
• The price path shows a projected target near $4800 after clearing $4000 with steady momentum and strength.
• RSI holds near 53, which allows space for another rally if ETH stays above the yellow support curve.

Ethereum is trading above $3816 as bullish momentum accelerates, with projected price targets near $4000 and an extended move toward $4800. The 4-hour Coinbase chart shows a well-formed cup breakout, bullish trendline continuation, and RSI support holding steady around 53.93.

Ethereum Clears Downtrend and Builds Rounded Bottom Structure

The chart displays a large rounded bottom structure that began forming in February and completed its curve in mid-July. ETH price trended below a long-standing descending resistance line until a confirmed breakout occurred. That breakout triggered a powerful move from $2,855 toward current price levels near $3816.

The ascending yellow trendline from mid-July has provided firm support for Ethereum’s rally. Price action has remained above this line since the breakout, respecting it as dynamic support. The region around $2855 served as a base zone and is now confirmed as a key floor for future pullbacks.

Multiple Fibonacci levels appear on the chart, including the 0.236 retracement at $3515, 0.382 at $3248, and 0.5 at $3033. These levels act as reference zones for traders monitoring retracement risks or future dip entries. However, price remains firmly above all of them for now, signaling healthy momentum.

Price Path Projects Surge Toward $4800 Zone

The price projection overlay on the chart draws a bullish path targeting $4800, based on the magnitude of the rounded base pattern. After clearing the $4000 zone—which is marked on the chart with a yellow label—ETH is expected to move through resistance toward $4864.

The upper red dashed line at $4864 represents a previous resistance zone that could pose short-term friction. However, the rounded base breakout pattern and steep trajectory favor a continued upward push. This path suggests ETH could mirror past performance during previous parabolic phases.

RSI remains below the overbought threshold, now reading 53.93, and forms a small divergence. That shows that while momentum is strong, short-term consolidation could emerge. Still, the price structure supports bullish continuation, as prior dips were absorbed quickly.

With Fibonacci confluence and volume support below, Ethereum’s bullish case appears technically sound. Traders are now watching for a clean close above $4000 to confirm this next breakout leg. As the price approaches historical highs, market sentiment may shift rapidly.

Technical Levels Provide Clear Navigation for Traders

The 0.236 Fibonacci level at $3515 acts as the nearest support below the current price. The next major zone is the 0.382 retracement at $3248. Traders often monitor these levels as pullback targets or entry points during consolidations.

If Ethereum rejects near $4000, these Fibonacci zones may absorb any downside. However, a sustained breakout above $4000 would open the door toward $4800 and possibly higher. The chart’s upward projection line suggests ETH may consolidate in a stair-step fashion as it climbs. This means small pullbacks may form higher lows, allowing a healthy market structure.

The RSI pattern also shows consistency with prior rallies. Each small correction has kept RSI within mid-levels, avoiding extreme conditions. This provides additional room for continuation in the current trend.