Surge of 240% breaks $5000! Ethereum's frenzy continues, analysts set a target of $12,000, and even see it rising to $20,000

Ethereum is experiencing a "crazy surge"! According to Cointelegraph, since April this year, its price has skyrocketed over 240%, not only breaking key thresholds but also setting a historic high of over $5000, with market enthusiasm remaining off the charts.

Analysts point out that the current Ethereum market has entered the "belief" phase, with multiple signals indicating that the upward trend may continue. From a fundamental perspective, the net unrealized profit and loss indicator for long-term holders has entered the "belief - denial" zone, which historically often precedes significant price increases; at the same time, the market value to realized value ratio shows that Ethereum is currently still undervalued, with a short-term target price already aiming at $5500.

On the technical side, there is a significant bullish signal——the price of Ethereum successfully broke through the "round bottom formation". According to technical analysis calculations, the target price corresponding to this formation is as high as $12,130. Several analysts are further optimistic, believing that in the context of declining interest rates and continuous capital inflow into the crypto market, the price of Ethereum is not only expected to hit the $10,000-$20,000 range in the future but may also usher in a new bull market.