• Ethereum gained 8.84% this week, reaching $4,510 amid renewed whale accumulation.
• Around 800,000 ETH were purchased by large holders, signaling growing confidence.
• Technical indicators suggest ETH could aim for the $5,000–$5,200 zone if momentum holds.

Ethereum ended the week on a positive note, trading at $4,510 after recording an 8.84% gain. The second-largest cryptocurrency by market capitalization displayed strong price movement between $4,088 and $4,616.

Market mood was boosted when whale activity picked up, with just shy of 800,000 ETH taken in by major holders in the week, data compiled by crypto market expert Ali revealed. This building up is evidence of increasing institutional enthusiasm in Ethereum’s long game, particularly as the larger market stabilizes after volatility-drenched months.

The continuous price rise is an echo of the rekindled optimism in decentralized finance (DeFi) and future network growth. Continual trading of Ethereum above $4,100 also indicates robust demand in weaker levels, building up a robust technical support for continued price gain.

Fibonacci Levels Hint at $4,950 Target for Ethereum Bulls

From a technical standpoint, the Fibonacci retracement levels outline a clear structure for Ethereum’s next moves. Resistance stands near $4,742, aligned with the 0.236 Fibonacci level. A successful break above this range could open the path toward $4,950 and potentially $5,200, where strong selling pressure is likely to appear.

On the negative side, the first major support is near $4,120, and an even deeper base is at $3,850. If the prices settle below these levels, Ethereum could return to the vicinity of $3,500, but this is less likely in the wake of its present robustness.

The RSI level of 63.56 indicates positive purchasing momentum and points toward higher room for upside prior to entering overbought territory. Still, traders could witness temporary suspensions in the near term due to prevalent market consolidation.

The MACD indicator also favors the bull case, with the primary line at 517.18 nicely above the signal line at 443.31. A wider and widening gap between positive histogram readings indicates robust up momentum, implying persistent buying pressure all the way up to October.

Short-Term Outlook and Price Prospects

Market outlook is positive for Ethereum’s continued rebound, with investors looking for more ecosystem enhancements and broadening DeFi uptake. Continued closes above $4,500 may bolster Ethereum for a rebound towards the $5,000–$5,200 area.

So long as ETH finds support north of $4,100, the larger picture is green and can set up for a new local high in the weeks ahead. While small corrections along the way, it appears that Ethereum is setting up for another robust leg higher in its 2025 performance cycle.

Also Read: Ethereum (ETH) Price Eyes $8,000 as Whale Accumulation Fuels Momentum