Ethereum Prepares for a Big Spike: Will it Reach $4,000 Next?

Jakarta, Pintu News – Ethereum (ETH) is attempting to retest the top of its local range after last week’s market shock. Although some analysts believe that the cryptocurrency will continue to move sideways in the coming weeks, there are strong indications that the next big move is on the horizon.

High Resistance Level Back Testing

Last week, Ethereum (ETH) tried to reclaim the $2,800 mark, hitting a three-month high of $2,879. However, the Iran-Israel conflict that triggered market turmoil saw the cryptocurrency’s price drop back to the lower limit of its range before finally recovering over the weekend. Since the market recovery in early May, Ethereum (ETH) has moved in a range of $2,400-$2,680, up from $1,800.

However, the cryptocurrency has been rejected from local range resistance four times in the last month. Market analyst, Daan Crypto Trades, notes that Ethereum (ETH) price action has been consolidating between these two key levels, pressing just below the $2,800 area.

Also Read: Bitcoin (BTC) Hits a New Low, What’s the Impact on the Market? (6/18/25)

Critical Levels that Determine the Next Direction

The $2,800 level has been a critical area throughout the cycle, serving as a key support and resistance level since 2024. The trader considers this area to be “the most important level in this whole chart,” explaining that every retest of this zone has resulted in either a “nice bounce” or a “big drop.”

Meanwhile, whenever Ethereum (ETH) manages to hold this level as support, the price “actually jumps further.” Daan explained that the current price range “has become quite narrow given the length of time it’s been trading here. It shows how important this is and that there will most likely be a big move from this point in the next few weeks.”

Will 2017 History Be Repeated?

Merlijn The Trader highlights that Ethereum (ETH) is now consolidating in its current range after breaking out of a falling wedge pattern that lasted several months, which suggests that the cryptocurrency could see a big move soon.

He pointed out that, historically, “these pauses often precede spikes,” adding that the Relative Strength Index (RSI) is also testing the recent breakout zone. Additionally, the trader noted that Ethereum (ETH) seems to be following its 2016-2017 playbook, with a similar structure eight years ago.

Conclusion: Potential Ethereum Price Spike

After experiencing market turbulence, the cryptocurrency moved sideways in a tight range while reclaiming its 50-day Moving Average (MA). Following this key retake, the price of Ethereum (ETH) experienced a huge surge towards new highs. According to Merlijn, “Same breakout zone.

The same MA 50 retake. Sideways movement… then a spike. But this time? A bigger market. Institutional fuel backing ETH. No limits in sight. We’re not repeating history… we’re amplifying it.”

Also Read: Global Tensions Heat Up, Crypto Takes a Hit: What Really Happened? (6/18/25)

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Reference

• NewsBTC. Ethereum Eyes Big Move as Price Compresses Between Key Levels, $2100 or $4000 Next. Accessed on June 18, 2025
• Featured Image: Generated by AI