Ethereum Challenges Key Resistance

🔷Ethereum continues its steady climb, holding above $4,750 after an August surge from below $3,800. The price is moving within an ascending channel, staying above VWAP and short-term EMAs, with bulls targeting resistance at $4,870 — a zone tied to historical highs. The technical setup remains bullish: RSI is moderately optimistic, while DMI and widening Bollinger Bands confirm the trend’s strength.
🔷On-chain data shows $55.46 million worth of ETH outflows, reducing supply and supporting the rally. A breakout above $4,870 could open the way to $4,950–$5,000, while a pullback could lead to a test of $4,720 or deeper — toward $4,504, where key supertrend support lies.