🚀 Ethereum aims for $5,000 driven by on-chain activity

The Ethereum network is showing clear signs of strength: the increase in on-chain activity, institutional accumulation, and the growth of ETH ETFs are fueling expectations of a price rise to $5,000.

📊 Key data supporting this projection:

• Fees on the network increased by 35% in the last week, while active addresses grew by 10%, indicating greater use and demand.

• Companies like Bitming Immersion Tech, SharpLink Gaming, and The Ether Machine have accumulated more than 877,800 ETH in their treasuries over the last 30 days.

• At the end of August, there were inflows of $1.4 billion into Ethereum ETFs, which helped ETH recover by 25% from its lows.

📈 Technical analysis:

• Ethereum is currently trading near $4,386, with resistance at $4,800 and support at $4,200.

• The RSI and MACD show slightly bullish momentum, suggesting room for a breakout.

🧠 What could accelerate the movement?

• A new wave of institutional adoption.

• Macro decisions such as FED rate cuts.

• Increased use of ETH as a corporate reserve asset.