😱🚀Ethereum Rally Begins: Eyes on $5,000! 🤯🔥

📈 Current Situation & Market Sentiment

Price and Momentum: Ethereum is currently trading at around $3,712 and has gained about 4% in the last 24 hours. It has fluctuated between $3,540 down and $3,714 up.

Increased ETF Interest: US spot $ETH ETFs have seen a total inflow of $2 billion since July 4th, indicating growing U.S. investor interest.

Institutional Buying: Firms like BitMine have added millions of Ethereum to their balance sheets, indicating a growing demand for "smart money," or professional capital.

⚙️ Fundamental & On-Chain Indicators

MVRV and NUPL: #ETH is currently trading relatively low relative to its realized value; NUPL metrics are in "in-the-money" territory—meaning investors are turning a profit, which could reduce selling pressure.

Exchange Balance: The amount of ETH held by long-term investors on exchanges is decreasing. This increases the risk of a supply squeeze, supporting the price.

🔧 Technical Analysis

Moving averages: The 50-day MA (~2594USD) is above the 200-day MA (~2477USD)—a golden crossover formation is observed.

Bull flag formation: A bull flag formation has formed recently, increasing the likelihood of an upward breakout; the range between $3745 and $4900 is suggested as a target.

Support and resistance:

Current support: The $2940–$2980 range is prominent.

Critical resistance: $3500–$3550 has been broken, with the next barriers being the $3800 and $4000+ ranges.

📊 Short- and Medium-Term Probabilities

Short-term (1–2 weeks): The uptrend is likely to continue; volatility may increase in the $3800–$4000 range. Raised call option positions in the Derivatives world also support this expectation.

1–3-month period: The $4,000–$5,000 range could become a reasonable target. According to a CCN article, a potential $4,900 price level is possible "after a bull flag breakout."

Long-term (6 months – year-end): Some analysts suggest that ETH could reach $5,000–$10,000.

⚠️ Risks & Warnings

Correction risk: Rapid increases often lead to corrections.