Ethereum Pricing Overview: Is a $4K Surge on the Horizon for ETH?

Despite a slight pullback after nearing the $4,000 resistance level during its recent rally, Ethereum (ETH) remains structurally optimistic. Technical analysis reveals that the cryptocurrency's daily chart retains its bullish structure, even after recent retracement. The asset's 100-day moving average is surpassing the 200-day moving average, confirming a bullish golden cross structure.

A successful reclaim of $3,700 could pave the way for another attempt at the $4,100 highs. Meanwhile, ETH's Exchange Supply Ratio continues to hit multi-year lows, indicating that less ETH is held on exchanges, a trend interpreted as a bullish signal. Despite price volatility, investors appear to be maintaining a long-term accumulation strategy, suggesting that even moderate demand could trigger significant price increases.