Ethereum price prediction: Bulls aim for $4,100 after clearing resistance
Ethereum clears key resistance and eyes $4,100 as breakout gains traction amid rising liquidations
Ethereum surged to $3,623.97 on Friday, extending its July rally with a 4.16 percent gain and pushing through the key $3,200–$3,400 supply zone. This breakout invalidated the previous lower-high structure and established a renewed bullish trend, reinforced by strong technical alignment across moving averages.
Highlights
- Ethereum jumps 4.16 percent to $3,623.97, clearing major resistance near $3,400
- Open interest climbs to $52.13B as Binance long/short ratio tops 3.00
- Short-term target set at $4,100, with $4,950 possible if breakout momentum continues
The move also marks Ethereum’s exit from a multi-week ascending channel that began in early June. With little historical resistance between $3,400 and $4,100, ETH has now entered a price vacuum zone, leaving room for an accelerated climb if momentum sustains. The daily chart reflects a textbook uptrend, with higher highs and higher lows.
ETH price prediction (Source: TradingView)
Price continues to respect the rising dotted trendline from April’s bottom and now trades well above all major exponential moving averages. The 200 EMA at $2,944 remains a key dynamic support, while the 20/50/100 EMA cluster has turned upward and sits tightly below current levels, reinforcing the bullish structure. A successful retest of the $2,800 support earlier this month confirmed strength, giving bulls the confidence to reclaim the upper range.
Derivatives data signals strong bullish conviction
Ethereum’s derivatives market underscores the spot rally. Open interest increased 4.09 percent to $52.13 billion, while daily trading volume jumped to $168.08 billion. Although options volume slipped 13.60 percent, it was offset by aggressive futures activity, which tends to dominate during trend acceleration. The long/short ratio of Binance’s top traders has crossed 3.00, indicating that institutional players are heavily tilted toward the upside.Meanwhile, liquidations have added fuel to the breakout.
In the past 24 hours, more than $237 million in positions were liquidated, with $136 million in shorts alone. This imbalance has likely triggered a short squeeze, pushing price swiftly higher and clearing resistance with minimal rejection. Historically, such liquidation-driven moves lead to further gains before eventual consolidation sets in.
Forecast targets $4,100 in short term with $4,950 as extended upside
If Ethereum sustains above the $3,200 breakout level, the path toward $4,100 remains open. This would represent a further 13 percent gain from current levels. A decisive breach of $4,100 could trigger another round of momentum buying, targeting the macro resistance near $4,950. This scenario is supported by strong trend structure, increased institutional exposure, and liquidations favoring bulls. A failure to hold above $3,400, however, could invite consolidation back toward the rising trendline.
In earlier analysis, Ethereum was consolidating near $3,000, with a focus on reclaiming the $3,200–$3,400 zone. We noted that breaking this supply region would open the path toward $4,100. With the breakout now confirmed and liquidation-driven momentum in play, ETH appears to be tracking this projected move.
