🔮Ethereum Price Eyes $5,400 Amid DeFi Boom and Bullish Reversal
Ethereum (ETH) is showing strong bullish momentum, trading at $3,821 with a 53% monthly gain. A key factor driving this rally is the resurgence in decentralized finance (DeFi), with total value locked (TVL) hitting a three-year high of over $140 billion—60% of which is on Ethereum.
Key Highlights:
Bullish Reversal Pattern: ETH has formed an inverted head and shoulders, signaling a potential uptrend. A breakout could push prices to $5,400, but first, ETH must overcome the $4,000 resistance level.
DeFi & NFT Growth: Rising DeFi activity and a 14% increase in NFT transactions suggest strong demand for Ethereum.
Institutional Interest: SEC approval for in-kind ETH ETF redemptions may further boost institutional inflows.
While the $5,400 target is plausible, ETH must first break past $4,000—a key resistance level since 2021. The RSI (69) indicates room for further gains before overbought conditions emerge.
Summary: Ethereum’s bullish setup, DeFi revival, and institutional interest suggest a potential rally to $5,400, but the $4,000 hurdle remains critical.