📈 Ethereum has likely entered a new bullish leg, supported by the recent Pectra upgrade, which significantly enhances the network's scalability and efficiency.
🚀 Just like in previous cycles, this phase could lead to an exponential move, potentially targeting the $4,500 to $6,000 range if momentum continues.
🔎 Key Technical Levels:
FVG around $2,900 - $3,100 acting as the first resistance area.
Major Supply Zone cleared, confirming a solid base around $1,500 - $1,700.
Mid-range target near $4,000 before testing previous ATH levels.
💥 As long as ETH holds above the FVG, the uptrend remains firmly in place, with the potential for a parabolic breakout as institutional interest grows.
⚠️ Risks:
Potential profit-taking as we approach previous highs.
Macro risks, including potential regulatory pressure and economic headwinds.
👉 For now, the path of least resistance remains to the upside, with higher lows and higher highs confirming a bull market structure.