#ETHBreaks3700

🚨The breakout of Ethereum above the MA50 suggests more upside, here is the target.

📉Ethereum (ETH) has decisively broken above a resistance level, the 50-day Exponential Moving Average (EMA50), triggering a new bullish momentum in the market. This breakout marks a significant change in the market trend, paving the way for a potential rally towards higher targets, around the $4,000 level.

♨️After breaking above the EMA50 barrier, the price of Ethereum exhibited an explosive rally. Cryptocurrency analyst Doctor Profit predicted on social media that ETH is gearing up for a major rise towards $4,000. He highlighted that Ethereum has finally managed to close above the key moving average after weeks of resistance and failed attempts to turn it into support, evidenced by the multiple rejections marked by green arrows. The breakout of Ethereum triggered a strong continuation move, with its price rising more than 28.17% in just one week, from around $2,500 to a peak near $3,226.

👉🏼📉The current technical structure of Ethereum suggests that further gains may follow the EMA50 breakout. The clean breakout and support above the moving average invalidated previous bearish pressure zones and opened the way for potentially higher price targets. Based on historical price behavior after similar breakouts, the analyst expects Ethereum to head towards $4,000 in the coming weeks, which would represent a remarkable increase of 9.64% from its current price of approximately $3,648.

Crypto market experts stated in a recent analysis that Ethereum made a comeback, surpassing $3,400 for the first time in five months and breaking a Rising Flag pattern. This bullish momentum follows weeks of price consolidation and a false breakout that seems to have eliminated previous bearish liquidity.