Log in

Market Direction

Ethereum targets $4,000 after breakout

Published: Nov 12, 2024
0
Share:

Ethereum’s surge to $3,480 raises questions as funding rates hit highs. Meanwhile, BTC and SOL also face critical levels. Will these assets continue upward, or is a correction on the way?

Post Feature Image

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


  • ETH's Open Interest has hit an al-ltime high in both USD terms and the number of coins (ETH) terms.
  • However, ETH's funding is high here at 0.06%, 66% annually.
  • This suggests a flush out is needed here also as there's a lot of leverage overly positioned one-sided, Long.
ETH's funding rate:

3. Ethereum funding rate and Open Interest chart displaying recent spikes in funding rates alongside ETH price fluctuations.

Technical analysis

  • It is a massive breakout and potentially a game changer for ETH, with a Trump victory providing hope for a new regulatory regime.
  • ETH smashed through two major horizontal levels, the first at $2,875 and the second one at $3,240.
  • Price has now moved up to the next horizontal resistance at $3,480, and it has pulled back from there. Expected after such a huge move higher.
  • Price is now battling to find and maintain support at the $3,240 horizontal level. It would be very positive for Price to hammer this level in as new support and spend some time cementing itself above this level.
  • The RSI for ETH is also very high at 73. It's likely we need to see more of a pull back for price or at least a period of price slowing down and consolidating, ideally in the range above $3,200.
4. Ethereum price chart with key resistance levels and support zones, showing a recent breakout and RSI overbought signals.
  • Next Support: $3,100 to $3,240
  • Next Resistance: $3,480
  • Direction: Neutral
  • Upside Target: $3,480 (and then $4,000)
  • Downside Target: $3,100

Cryptonary's take

The Trump win has absolutely given fresh life to ETH and just generally the DeFi space. We expect price to slow down here, and ideally to just consolidate for a week or so between $3,200 and $3,400. This would give Alts/Meme's more room to breath and go higher, so we'd see that as positive. However, if there is a slight further pull back for ETH here, we wouldn't rule out a re visit to $3,100.

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC, ETH, and More: Double Bottoms and a Critical Bounce
PRO
Market Direction
BTC, ETH, and More: Double Bottoms ...Markets rebound off key lows, BTC and major alts flash double bottom signals. Will support hold for ...
6 min read
Oct 20, 2025
BTC, ETH, and More: Bearish Pressure as Key Support Levels Break
PRO
Market Direction
BTC, ETH, and More: Bearish Pressur...Markets face critical retests with BTC and major alts breaking supports; all eyes on bounce zones an...
7 min read
Oct 17, 2025
BTC, ETH and More: Key Supports Reclaimed, Next Targets in Play
PRO
Market Direction
BTC, ETH and More: Key Supports Rec...Markets are showing signs of recovery after last week’s turbulence. Bitcoin and Ethereum are stabili...
4 min read
Oct 15, 2025