Ethereum ($ETH) is once again stealing the spotlight as traders debate whether it’s gearing up for a monster rally to $7,000 or bracing for a sharp correction.
ETH recently reclaimed $4,300, marking its strongest weekly close since late 2021. The question now — can the bulls keep this momentum alive?
✨ ETH Bulls Ride Strong Technical Momentum
Ethereum has broken out of a long-term ascending wedge, pushing gains to +21% in just 7 days and over +185% year-to-date.
Trading above the 50-day & 200-day MA (bullish golden cross intact)
RSI is heating up but still shy of overbought
MACD remains solidly in the green
If momentum holds, analysts see a clear path to $7,000 — just 60% higher from current prices. ETH is also only 12% away from its all-time high.
✨ Key Levels to Watch — Support & Liquidation Clusters
Resistance Zones: $4,450–$4,550, heavy liquidation pockets (CoinGlass data)
Support Zones: $4,150–$4,200 — a breakdown here could spark a deeper correction
Whales are actively accumulating in the $4,200 zone, but short-term traders are booking profits — hinting at potential short-term volatility.
✨ Institutional Flows & Macro Boost
Ethereum ETFs saw $850M in net inflows this week, the biggest since launch. Institutions are clearly showing renewed interest.
Macro factors could decide ETH’s short-term fate:
CPI report Tuesday
PPI Thursday
Retail Sales Friday
If inflation cools and Fed rate cuts come into play, ETH could be in for another leg up.
📌 Bottom line: $4,200 remains the make-or-break level for bulls. Above it — $7,000 is in sight. Below it — expect a healthy but sharp correction.
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