Ethereum (ETH) is surging toward the $4,000 mark, driven by renewed investor confidence and positive market indicators. As of today, ETH is trading at approximately $3,859, up over 5% in the past 24 hours, with a 7-day gain of nearly 7% Analysts attribute this rise to increased investor accumulation and a favorable macro environment, particularly following Bitcoin’s record-breaking climb to $100,000BeinCrypto.
Juan Pellicer, a senior researcher at IntoTheBlock, suggests Ethereum could hit a new all-time high if it surpasses $4,000. The current bullish sentiment is supported by positive funding rates on major exchanges, indicating that long positions are dominating the market BeinCrypto. However, large holders have recently slowed their accumulation, which could introduce some resistance to further price increases.
Technical analysis highlights a bull flag formation, a pattern that typically signals a breakout. If Ethereum breaks through its current resistance levels, it could potentially rise beyond $4,000 before the end of the month BeinCrypto MarketBeat.
Despite the bullish trend, experts warn of potential volatility due to market dynamics and possible selling pressure. Ethereum’s current market cap stands at $464.81 billion, showcasing its significant role in the broader crypto ecosystem MarketBeat.
Stay updated with the latest cryptocurrency news on 360Bulletin.com, where we bring you the most current and insightful coverage of the ever-evolving digital economy and For more insights on Ethereum’s market trajectory, visit MarketBeat.
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