Ethereum Hits New Highs Near $5,000 After Powell Speech

Ethereum recently surged to near-record highs above $4,900, fueled by strong institutional interest, inflows into ETFs, and supportive macroeconomic signals such as Federal Reserve Chair Jerome Powell's dovish remarks hinting at potential rate cuts. This optimistic environment has pushed Ethereum close to the $5,000 threshold, a level that, if surpassed and sustained, could trigger a new price discovery phase. Despite brief pullbacks and resistance around $4,800, Ethereum's overall technical structure remains bullish, with key support at $4,000 anchoring the uptrend. The rally reflects Ethereum's growing role as a macro beta asset, benefiting from increased liquidity and corporate treasury strategies that now include substantial Ether holdings. Analysts highlight that as long as Ethereum holds above critical support levels, the broader bullish momentum is intact, with a possible target range extending beyond $5,000. However, a decisive break below $4,000 could signal a shift in momentum and open the door to deeper corrections.