Ethereum Reclaims $4,600 After Multiple Rejections as Traders Eye Possible Breakout Above $4,650

Ethereum price has rebounded to $4,604 with a 2.3% 24-hour gain and roughly 15% weekly rise. Traders are watching a decisive resistance zone at $4,650–$4,700; a clean breakout could push ETH toward $4,900–$5,000, while a rejection may retest support near $4,200.

Key resistance: $4,650–$4,700 — tested four times
Market cap ≈ $556 billion; 24h volume > $35 billion.
Liquidations: $53M wiped out in 24h; shorts ~$37M, signaling easing bearish pressure.

Ethereum price rebounds to $4,604; traders eye breakout above $4,650. Read concise analysis of resistance, liquidity data, staking trends, and likely targets.

What is driving Ethereum’s rebound to $4,600?

Ethereum price climbed back to $4,604 after a 2.3% 24-hour gain, supported by rising on-chain staking and falling bearish leverage. Liquidity data showing $53 million in recent liquidations and higher lows since mid-September indicate strengthening buyer conviction.

How likely is a breakout above $4,650?

ETH has tested the same descending trendline four times without a clean close above it, creating a critical resistance at $4,650–$4,700. If ETH closes decisively above this zone with elevated volume, momentum typically accelerates toward the $4,900–$5,000 range.

Conversely, failure to hold above the channel could prompt a pullback to support near $4,200. Current RSI near 60 suggests healthy momentum without overextension, so watch volume and trendline confirmations closely.

When did the recent price move and liquidations occur?

Over the past 24 hours ETH rose 2.3% to $4,604 and saw about $53 million in leveraged liquidations. Short positions accounted for approximately $37 million of that total, indicating short-squeeze dynamics helped the rebound.

What on-chain and technical signals matter now?

Key on-chain signals: rising staking participation and reduced short liquidity. Technicals: higher lows since mid-September and RSI near 60. Together, these suggest buyer accumulation with manageable momentum.

Comparison: Key Levels and Metrics

Metric Value

Current price	$4,604
Market cap	≈ $556 billion
24h volume	> $35 billion
Immediate resistance	$4,650–$4,700
Upside target on breakout	$4,900–$5,000
Support on failure	≈ $4,200

Frequently Asked Questions

How did liquidations affect the recent price move?

Large liquidations—about $53M in 24 hours—likely accelerated the short-term rally. Short liquidation of roughly $37M suggests short-covering boosted upward pressure, reducing bearish liquidity.

Will the Fusaka upgrade influence price action?

The Fusaka upgrade scheduled for December and rising staking participation are supportive long-term catalysts. These fundamentals can underpin bullish sentiment but do not guarantee short-term breakout success.

What should traders watch next?

Traders should watch for a daily close above $4,650 with volume confirmation, RSI trajectory, and on-chain staking trends to validate a sustained breakout versus a false rejection.

Key Takeaways

Resistance tested: ETH has attempted the descending trendline four times; $4,650–$4,700 is critical.
Liquidity shift: $53M liquidated in 24h, shorts accounting for $37M, easing bearish pressure.
Actionable step: Seek a daily close above resistance with rising volume before assuming breakout continuation.

Conclusion

Ethereum’s reclaim of $4,600 reflects rising buying interest and reduced short liquidity, but the $4,650–$4,700 zone remains decisive. Monitor daily closes, volume, and on-chain staking metrics for confirmation. Published by COINOTAG on 2025-10-05; follow COINOTAG for timely market updates.

Author: Alexander Stefanov — Reporter, COINOTAG

Published: 5 October 2025 | 11:17 (UTC)