Ethereum Could Target $5,766 If It Clears $4,955 Resistance, With $3,876 as Key Support

• Ethereum price near $4,515 with key support at $3,876 and resistance at $4,955

• Analyst Donald Dean cites volume shelves and Fibonacci retracements pointing to $5,766 and $6,658 upside targets.

• Trading volume and a recent double-bottom pattern shape near-term bias; a drop below $3,876 risks bearish continuation.

Ethereum price outlook: $4,515 now, watch $4,955 breakout for targets to $5,766 and $6,658 — read the technical roadmap and trading implications.

Ethereum trades at $4,515 as analysts highlight $5,766 targets, with support at $3,876 and resistance at $4,955 shaping its next move.

• Ethereum holds momentum above $4,500 as traders eye $5,766, with strong support near $3,876 and resistance around $4,955.
• Donald Dean highlights Ethereum’s recovery, pointing to volume shelves and Fibonacci levels that frame its bullish path ahead.
• Ethereum’s breakout potential rests on $4,955 resistance, with upside targets at $5,766 and $6,658 shaping trader sentiment.

Ethereum’s price action has drawn close attention this week as traders watch key technical levels. On October 3, Ethereum traded at $4,515.89 against the US dollar on Coinbase. The token slipped by $32.79, marking a 0.73% decline. However, analysts remain optimistic about Ethereum’s next leg higher.

Donald Dean, an analyst on X, stated, “Ethereum has made good upward progress once support was confirmed at the $3800 level. Currently ETH is at the volume shelf launch area near $4500 and ready to move higher. Next target is $5766 for an ETH to BTC 50% retracement.” His outlook highlights a clear technical roadmap that many traders are monitoring.

What is the current Ethereum price outlook?

Ethereum price is trading around $4,515 with a short-term range defined by support at $3,876 and resistance at $4,955. A confirmed breakout above $4,955 would target the 50% Fibonacci level at $5,766 and the 61.8% level at $6,658, while a drop below $3,876 would signal renewed downside risk.

How are price levels and volume shelves shaping ETH’s next moves?

Volume shelves at $3,876.53 and the current range indicate concentrated liquidity and institutional interest. The market formed a double-bottom near support, which added buying pressure. Volume-assisted rallies from those shelves historically validate breakouts; traders use these zones to set stop-loss and take-profit orders.

Price Action and Key Levels

Ethereum has displayed a strong recovery since July, climbing along a teal ascending trendline. Prices rallied sharply and peaked near $4,955.90 in early August. That high remains a critical resistance zone. However, after reaching this peak, Ethereum slipped into a consolidation phase with increased volatility.

The chart also shows a descending channel that defined price movements through September and early October. The lower boundary provided support, while the upper boundary capped upward momentum. Recently, Ethereum broke below this channel before rebounding through a double bottom pattern near support.

Volume analysis further adds context. Two major volume shelves emerged — one at $3,876.53 and another near the current range. These areas show heavy trading activity and act as liquidity zones. Moreover, Ethereum’s trading range between $3,876.53 support and $4,955.90 resistance will decide near-term market direction.

How do Fibonacci levels inform ETH/BTC and USD targets?

Fibonacci retracement levels place the 50% retracement at $5,766, the 61.8% at $6,658, and the 100% retracement at $9,547. These levels act as logical targets if momentum resumes. For ETH/BTC, the 50% retracement noted by analysts serves as a cross-pair gauge for relative strength versus Bitcoin.

Breaking above $4,955.90 resistance could trigger renewed momentum toward these retracement zones. Conversely, a drop below $3,876.53 would weaken bullish conviction and could open lower support tests.

Frequently Asked Questions

What are the immediate support and resistance levels for Ethereum?

Immediate support is at $3,876.53 and immediate resistance is at $4,955.90. These levels will likely guide short-term trading decisions and determine whether the market resumes an uptrend or returns to consolidation.

How likely is an ETH breakout to $5,766?

If Ethereum breaks and sustains above $4,955.90 with above-average volume, a run toward the 50% Fib at $5,766 becomes probable. Traders will look for confirmation via volume shelves and follow-through buying to validate the move.

How to interpret Ethereum key technical signals?

Use a checklist approach: identify support/resistance, confirm with volume, map Fibonacci levels, and watch for chart patterns such as double bottoms. Short timeframes offer early signals; higher timeframes confirm trend direction.

Key Takeaways

• Range-bound now: Ethereum trades around $4,515 with a well-defined range between $3,876 and $4,955.
• Breakout criteria: A sustained move above $4,955 on high volume targets $5,766 and $6,658.
• Risk management: Use volume shelves and the $3,876 support level to set stop-losses and position sizing.

Conclusion

Ethereum price action remains technically driven, with clear support at $3,876 and resistance at $4,955 guiding the next directional move. Watch volume-confirmed breakouts toward $5,766 and $6,658, and manage risk under $3,876. COINOTAG will monitor updates and publish follow-ups as on-chain and market data evolve.

By COINOTAG | Published: October 3, 2023 | Updated: October 3, 2023

Meta description: Ethereum price outlook: $4,515 now; watch $4,955 breakout for targets to $5,766 and $6,658 — read the technical roadmap and trading implications.