Ethereum has regained strength over the past week, rebounding and reclaiming the $4,500 zone. Momentum remains constructive, but signs of short-term exhaustion are emerging as the market approaches key resistance.ETH Price Analysis: TechnicalsBy ShayanThe Daily ChartOn the daily timeframe, ETH continues to trade within a well-defined ascending channel that has guided price action since early spring. The current push toward $4,550 keeps it above both the 100-day and 200-day moving averages, confirming a sustained bullish structure. However, the price is approaching a strong supply area between $4,600 and $4,800, where previous rallies have faced rejection.The RSI has also climbed to 59, reflecting renewed bullish momentum but not yet into overbought territory. If ETH manages to break and close above $4,800, the next leg toward $5,000–$5,200 could unfold. On the other hand, failure to break higher could trigger a retracement toward $4,000 support and the lower boundary of the ascending channel.Source: TradingViewThe 4-Hour ChartOn the 4-hour timeframe, ETH shows a potential bearish divergence between price and RSI, hinting at weakening short-term momentum as price tests $4,550. This region can act as immediate resistance before the $4,800 level, while the $4,200 support zone below remains a key support where buyers previously defended aggressively.A short-term pullback to this zone would not break the overall bullish trend and might even offer better long-term opportunities. Sustaining above $4,200 is crucial for maintaining the current higher-high structure.Source: TradingViewSentiment AnalysisThe Coinbase Premium Index has flipped positive to around +0.063, signaling renewed buying pressure from the U.S.-based investors on Coinbase. This shows growing spot demand and potential institutional accumulation, despite ETH being at all-time highs.Sustained positive premiums often align with strong market inflows and confidence in ETH’s mid-term outlook. If this buying trend continues, it could provide solid support for Ethereum’s price even if short-term corrections occur.Source: CryptoQuantThe post ETH Soars Past $4.6K as Bulls Eye $5,000 as Next Target (Ethereum Price Analysis) appeared first on CryptoPotato.