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📊$ETH Surges Past $2,800: Can Bulls Push for a $4,000 Rally?

Ethereum ($ETH ) is stealing the spotlight, smashing through the critical $2,800 resistance level and briefly hitting $3,000, with a stellar 16.77% gain! 🚀 $2,800 has been a tough barrier for ETH over the past two years, making this breakout a big deal. But with a slight pullback to $2,966 today, can the bulls hold the line for a shot at the $4,000 cycle peak?

📊 What’s Happening?

• Bullish Breakout: ETH’s decisive move above $ daily chart supports the bullish case.

• But Watch Out: The RSI at 71.12 signals overbought conditions, hinting at possible profit-taking or a short-term dip. A drop below $2,800 could see $ETH test $2,100–$2,160.

• On-Chain Insights: Exchange outflows of $493M show investors are moving ETH to private wallets, a sign of confidence in future gains. Network fees dipped slightly to $6.04M, suggesting a minor slowdown in activity.

💡 What’s Next?

Holding above $2,800 is key for bulls to maintain control and eye $4,000. A failure here could spark a deeper pullback. With a 16.53% gain this month, ETH’s momentum is strong, but the overbought RSI calls for caution. Keep an eye on volume and network activity for clues!

🧠What do you think—will ETH charge to $4,000, or is a correction coming?