#Ethereum has just blasted past $4,000 for the first time since December ā and the crypto world is split. Are we about to see ETH launch toward $7,000, or is a sharp correction around the corner?
š„ Bulls in Full Control After Breakout
šLast week, ETH broke out of a multi-year megaphone pattern, sending it flying to a weekly high of $4,329. Right now, itās holding around $4,303, up 19% in the past 7 days and +190% YTD.
š¦Trading above all major moving averages
š¦50-day MA > 200-day MA (golden cross)
š¦MACD flashing bullish green
Everything on the charts points toward more upside. If momentum holds, $7,000 is on the table ā thatās about +62% from here. Weāre also just 12% away from ETHās all-time high.
š Key Liquidation & Support Zones
CoinGlass data shows massive liquidation clusters between:
ā¦ļø$4,200 ā $4,300
ā¦ļø$4,400 ā $4,500
These act like price magnets. On the downside, ETH has support around $4,100 ā $4,150. A break below could trigger cascading liquidations.
š¦ Institutions Are Waking Up
Yesterday was huge ā Ethereum ETFs pulled $1B net inflows in a single day, the biggest since launch. Thatās a clear signal of institutional FOMO.
Butā¦ Glassnode data shows short-term holders taking profits faster than long-term holders ā a sign some expect a pullback soon.
š Macro Events That Could Decide ETHās Next Move
This week is packed with U.S. economic data:
āŖļøCPI ā Tuesday
āŖļøPPI ā Thursday
āŖļøRetail Sales ā Friday
If inflation keeps cooling and the Fed hints at rate cuts, crypto could get another rocket boost.
One caution: $BTC hit $122K over the weekend, leaving a CME gap at $117,200. If BTC drops to fill it, ETH might follow.
š” My Take: ETH has all the ingredients for a run toward $7K, but short-term volatility is likely ā especially with macro news and BTCās gap in play. Iām watching $4,150 on the downside and $4,500 on the upside for the next big move.
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