Ethereum is approaching the $4,800 resistance with a $8,500 target in sight as traders keep an eye on key patterns, whale accumulation and declining short interest.
Over the past week, ETH has risen almost 2%. Technical charts and trading activity suggest that a bigger move may be underway.
Market is eyeing $4,800 as a decisive level
Analyst Javon Marks points to $4,800 as a key resistance zone. His previous price call of around $1,215 to this level came out with a gain of over 300%. “Bitcoin led the way and broke through multiple resistance points,he wrote, adding that Ethereum could follow with a move towards $8,500 if it breaches the $4,800 level. That area is being treated as a natural barrier in the current trend.
$ETH almost +300% callout from ~$1,215 to $4,811.71 target, 🎯, and now targeting $8,500+.
This target is another expected resistance point, so it’s not much of a surprise to see prices handle it similarly.
Bitcoin led the way, breaking through multiple resistance points, and we are watching… https://t.co/i6CamFCqxK pic.twitter.com/EROBIRsczd
— JAVON⚡️MARKS (@JavonTM1) December 30, 2025
Recent chart behavior shows that ETH is holding steady rather than breaking out or falling back. Traders are now looking for a shift in momentum. The long-term trend is still leaning upwards, but the market has yet to decide on a clear direction above this resistance level.
Furthermore, on the daily time frame, ETH is trading at the top of a descending channel. According to for Clifton Fx, a strong daily close above the channel could send Ethereum towards $5,000. He described the setup as a breakout watch, with the market looking for a clear signal before confirming direction.
Elsewhere a weekly chart shared from Trader Tardigrade shows a major inverse head and shoulders pattern. The neckline is close to the USD 4,800 level. This type of pattern is known to signal trend reversals when confirmed. Currently, the price is in the right shoulder zone and the pattern remains valid as long as that structure holds.
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Support remains as short-term interest rates decline
On shorter terms, $2,800 acts as the main support. According to CryptoWZRD, a move above $3,060 could open the way to $3,230. A drop below $2,880 would change the short-term outlook. “More price action from ETHBTC is needed,‘, the analyst declaredtying Ethereum’s next step to broader market behavior.
Recent data shows that short positions on ETH have fallen sharply. This indicates increasing pressure on bearish traders. CW posted,
“Most short positions will be liquidated if the price reaches just $3,080.”
As we reported, addresses holding 10,000 to 100,000 ETH now control 21 million tokens. Currency reserves have fallen by over 4 million ETH this year, indicating reduced supply in the market. Meanwhile, large investors have increased their positions over the course of 2025, while smaller investors have reduced their positions.
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