Here’s a deep look at ETH/USDT hitting $5000:
1. **Current situation:**
ETH trades around $4670–$4710 with strong bullish momentum.
2. **Technicals:**
EMA lines are ascending, RSI is high (70+), indicating strong buying but possible short-term overbought. MACD supports upward trend.
3. **Market sentiment:**
Options traders show a 62% chance of ETH reaching $5000 by August end. Institutional interest and shrinking supply add bullish pressure.
4. **Catalysts:**
Upcoming protocol upgrades, DeFi demand, and potential Fed rate cuts boost optimism.
5. **Risks:**
Overbought signals could bring short-term pullbacks; volume needs to sustain for a clean breakout.
Overall, the $5000 level looks achievable mid to late August if bullish momentum holds and no major market shocks occur.
#Are you thinking long-term or short-term trading for ETH? 🚀