Ethereum is gaining momentum, can it reach the $3,000 mark?
Ethereum prices have continued to rise recently and have approached the $98,000 mark led by Bitcoin, showing strong upward momentum. Meanwhile, Ethereum, the largest altcoin in the market, has also risen to $2,755, with an intraday recovery of 0.61%, which is the third consecutive day of its positive trend, trying to challenge and break through $2,800.
From a technical perspective, Ethereum’s price trend has formed three consecutive positive performances, which increases the possibility of it breaking through the existing resistance and challenging the psychological price of $3,000. Technical indicators such as Fibonacci levels also show that Ethereum is expected to form a more favorable trend pattern.
Even more exciting is that Ethereum’s whale investors also appear to be returning to the market. Data shows that a major whale recently started buying more Ethereum after being silent for nearly 500 days. This behavior may reflect the whales’ confidence in Ethereum’s future price trend.
Additionally, Ethereum’s network activity is also improving significantly. The number of new addresses on the Ethereum network has risen steadily over the past week, with daily active addresses growing by 12.10% to over 200,000. This shows that Ethereum’s popularity is constantly increasing.
However, despite Ethereum’s strong upward momentum, demand for institutional investment still appears to be low. This may affect Ethereum's further rise to some extent. But overall, I personally believe that Ethereum's upward trend is still obvious and is expected to continue to sprint to the $3,000 mark in the future.
If Ethereum can successfully break above $3,000, its bullish target could be further extended to $3,241 or even $3,591. Of course, all of this requires further verification and support from the market. But in any case, Ethereum's recent performance is eye-catching enough and deserves investors' close attention.
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