Ethereum price analysis (Bullish) — 4506.00 USDT (+0.81% 24h)

Ethereum continues to demonstrate resilience as it trades at $4,506, showing modest 0.8% gains over the past 24 hours. The current price sitting just above the 20-day SMA ($4,503) suggests underlying strength, while maintaining position well above the 50-day SMA ($4,472) indicates the medium-term uptrend remains intact. With RSI at 61, ETH approaches overbought territory but still has room for upward movement before hitting extreme levels. The $4,500 level appears to be acting as both support and psychological barrier – a sustained break above could trigger momentum towards $4,600. Trading volume remains healthy at $1.96B, supporting the current price action. Traders should watch for consolidation around current levels with stops below $4,450. Consider scaling into positions on pullbacks toward the 20-day SMA, while aggressive traders might look for breakout confirmation above $4,520 for short-term momentum plays. The volatility reading of 2.6% suggests typical market conditions for ETH.