Ethereum (ETH) Targets $8,500 as Critical Support Zone Ignites Major Recovery Rally

Ethereum's price floor holds firm—and now the bulls are charging.

The Support That Sparked a Surge

Remember that key support level everyone was watching? It didn't just hold; it launched a rocket. The bounce was immediate and decisive, shifting the entire market narrative from cautious defense to aggressive offense in a single candle. This isn't just a dead-cat bounce—it's momentum with a purpose.

The $8,500 Target: More Than a Number

That big, round figure isn't plucked from thin air. It represents the next major technical and psychological barrier, a zone where previous rallies have stalled and profit-takers traditionally emerge. Reaching it would signal a full regime change, confirming the recovery isn't just a fleeting sentiment shift but a sustained trend reversal. Traders are now mapping the path, watching for consolidation patterns and volume confirmations on the way up.

Why This Move Feels Different

The market's memory is short, but its pain points are long. This rally is unfolding with a cleaner technical structure than the leveraged, hype-driven pumps of cycles past. The support was tested, held, and now serves as a foundation—not a springboard for reckless speculation. Of course, in crypto, a 'foundation' can sometimes feel like building on a trampoline during an earthquake, but the price action speaks for itself.

The momentum is here. The target is clear. The only question left is whether traditional finance dinosaurs, busy re-hypothecating the same tired assets, will even notice until ETH is knocking on their vault door.

Ethereum Poised For Major Rally

Crypto analyst Javon Marks highlighted the Ethereum potential for major growth, emphasizing the possible increase from around $1,215 to a target of $4,811.71, which is a significant increase of over 300%. Marks also stated that the possible rally may end up pushing the price of ETH to $8,500 in the future.

Ever since the recent breakout of Bitcoin through various resistance points, the focus is now on ETH, as market players are looking for similar positive movements. If it breaches the resistance level of $4,811.71, it could open the way for further positive movements to the level of $8,557.68.

Ethereum Builds Momentum Near Support

At the same time, market analyst GainMuse noted that “Ethereum is actually consolidating around the support areas, and it is creating some upward pressure. If the support areas continue to be maintained, it will trigger a rally to the descending resistance.”

However, with ETH at such an important stage, there is reason to be encouraged about the possibility of it recovering and making further advancements. This is because the coming weeks are expected to see crucial market movements in the concerned cryptocurrency.

Ethereum Weekly Momentum Turns Cautious

For the weekly chart, RSI is still weak at 42.79 and is under its average at 48.21, indicating decreasing momentum in purchase. Price is currently at $2,987 and is lower than the 20 MA of $3,746 and is close to the 50 and 100 MA values of $3,061-$3,101. An MA ribbon indicates sell pressure, and the 200 MA of $2,459 is significant support.

MACD also reveals the slowing momentum because the MACD line is at -116.52, whereas the signal line remains at 32.02. The histogram has moved further into the negative region at -148.54. Based on the entire structure of MACD, ETH seems to remain in the corrective phase until the momentum changes.