Dear followers, the weekly analysis for the price of $ETH /USDT $ETH

The price of #Ethereum is currently undergoing a sideways consolidation phase after a strong rise of 41% in May.

Support: $2,300

Resistance: $2,850

As U.S. stocks approach their all-time highs, and Bitcoin reaches new record levels, high-risk assets such as ETH and alternative cryptocurrencies may experience strong momentum.

Key bullish indicators:

Weekly breakout of the Relative Strength Index (RSI)

Bullish crossover of the MACD

Price stability above the 200-week moving average

The Relative Strength Index (RSI) shows upward momentum

Continued inflows into traded ETH funds

Continued expansion of the money supply (M2)

Considering these technical and macro indicators, I wouldn’t be surprised to see the price of ETH reach $4,000 in the next four to six weeks.