ETH could rise to $5,000 if it holds $4,500, analysts say

Ethereum (ETH) could rally to a range of $4,800 to $5,000 if it secures a daily close above $4,500, Cointelegraph reported, citing multiple analysts. The report noted that the rebound appears to be driven by a bullish divergence on the four-hour Relative Strength Index (RSI), combined with a breakout from a two-week falling wedge pattern. Activity in the ETH futures market has been limited, with open interest remaining relatively unchanged while spot trading volume has increased significantly. This suggests the rally is being driven by spot demand rather than leverage. The analysis concluded that $4,500 is a key support level for ETH's short-term trend, and a failure to hold it could lead to a drop below $4,100.