#ETHBreaks4000

Technical analysis - $ETH

Strong support and the formation of higher highs:

The bulls defended the $3,500 zone well, rallying since the weekend and establishing higher peaks. This paved the way for a breakout above the 50-period moving average (H4), currently around $3,720.

Momentum indicators signal caution.

The RSI on H4 is close to the overbought zone, suggesting that there is a risk of a pullback if the upward movement does not sustain.

The pivot between $3,700-$3,750 may be tested if there is a correction and serve as a reaction point for new highs.

Institutional investors have started a frantic search for the asset, and if this trend continues, Ethereum will break its ATH in the coming days.