$ETH

Ethereum (ETH) is flirting with the $4000 level, riding a series of bullish technical patterns and growing optimism in market sentiment. At a price of around $2,513 at the time of writing, ETH has created a "bullish marker" on the daily chart, a pattern that typically indicates a bullish continuation. So if the momentum continues, there could be something like a 56% crowd from here on the cards.

On-chain indicators point to a significant decrease in ETH being traded on exchanges, with the metric dropping to an all-time low. This resembles a strong confidence trend as well as a lack of selling pressure.

It is also worth noting that recent Ethereum improvements in the Pectra and UX upgrades have brought more investors to the table.

Analysts indicate that a key close above the $2800 resistance level could open the way for ETH to test the $4000 area. However, investors should be cautious of potential market corrections and should closely monitor key support levels.

$ETH

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ETH

2,533.72

+0.52%