Ethereum News Today: ETH Price Holds Above $4,160 Amid Bullish Momentum

Key TakeawaysEthereum price hovers at $4,160.7, extending its short-term strengthTechnical data shows bullish momentum with multiple moving averages trending upwardAnalysts highlight growing Layer 2 activity and stablecoin demand as long-term drivers Ethereum Price Action TodayEthereum (ETH) price remained firm at $4,160.7, marking a 4.42% daily increase, as traders eye macro catalysts and institutional signals. The asset continues to outperform the broader crypto market (+2.54%), supported by bullish technical momentum and steady on-chain growth.According to BitMine Chairman Tom Lee, Ethereum remains in a “supercycle,” with fundamentals outpacing short-term price action. Rising transaction volumes and expanding stablecoin activity on Ethereum’s Layer 1 and Layer 2 networks are strengthening its position in the digital assets market. Technical Snapshot: Momentum, MACD Shift Positive Despite Neutral OscillatorsOscillator readings from today’s technical summary suggest steady but cautious sentiment. The Relative Strength Index (RSI) sits at 53.0, indicating balanced buying and selling pressure, while the Stochastic %K (68.4) and Commodity Channel Index (82.7) also remain neutral.However, momentum (329.9) and the MACD level (-63.2) signal a potential shift toward positive acceleration, hinting at a possible trend continuation above key resistance zones. The Average Directional Index (19.4) points to a moderate trend strength, suggesting consolidation before a major breakout.Source: TradingViewMoving Averages Indicate OptimismA broader look at moving averages reveals a strong short-term upward bias. Both 10-day and 20-day exponential and simple moving averages ($3,960.6-$4,048.8) sit below the current market price, reinforcing an uptrend structure.Medium-term simple moving averages (30–50 day) hover near $4,144.6–$4,236.3, showing tight consolidation. Longer-term indicators such as the 200-day exponential ($3,591.8) and simple ($3,284.1) remain well below current levels, confirming long-term market confidence and low downside risk for now. Macro and Institutional DriversBroader sentiment across the crypto market improved following positive signals from U.S.–China trade discussions and increased expectations for a Federal Reserve rate cut. Lower rates typically support risk-on assets like Ethereum, which also benefits from its staking yields (~3.5%) and deflationary supply mechanics post-EIP-1559. Outlook: Can ETH Sustain Above $4,150?As ETH consolidates near $4,160, market analysts are watching for sustained closes above $4,220—a key Fibonacci resistance level. A successful hold could pave the way toward $4,730–$4,750, last seen during October highs.However, traders are also monitoring Bitcoin dominance (≈59%) and spot ETF flows (≈$22.83B AUM), both of which could influence short-term volatility.