🚀 $5K in Sight: Ethereum’s On-Chain Data Points to a Breakout Run! 💥
Ethereum ($ETH ) has blasted above $4,200 for the first time since 2021, locking in a +25% weekly gain as per CoinMarketCap. Dubbed the "King of Altcoins", ETH is showing no signs of slowing — but it’s now testing a critical resistance zone between $4,000–$4,400, an area that historically triggers heavy profit-taking.
📊 Why This Resistance Matters:
This range has acted as a multi-year sell wall, where traders previously cashed out in size. A decisive daily close above $4,400 would signal that bulls are overpowering historical selling pressure — potentially opening the door for a rapid move toward $4,800 and, eventually, the psychological $5,000 level.
🔍 On-Chain Insights from CryptoOnchain:
MACD Indicator ➡ Flipped positive, confirming strong bullish momentum.
NUPL (Net Unrealized Profit/Loss) ➡ Investors are in profit, but ETH price is not in a euphoric or overheated phase.
MVRV (Market Value to Realized Value) ➡ Approaching higher historical levels, signaling some short-term selling risk.
Despite the caution signals, market structure remains strong. Traders aren’t showing excessive greed, and long-term holders seem confident. If Ethereum breaks out above $4,400 with volume, analysts expect a retest of all-time highs could follow sooner than many expect.
🔥 Next Key Levels to Watch:
$4,000 → Current lower support of the resistance zone.
$4,400 → Breakout trigger.
$4,800–$5,000 → Short-term upside targets if breakout holds.
