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Ethereum Price Bullish Momentum Eyes $5,000 After Breaking Major Resistance
The Ethereum price has experienced a significant surge past the $4,000 mark, shattering the 1.5-year resistance and signaling strong bullish momentum. This unprecedented move is accompanied by positive technical indicators, further supporting the possibility of reaching the highly-anticipated $5,000 milestone.
Experts in the cryptocurrency space are now speculating about the potential for Ethereum to rise toward this level in the near future. The recent MVRV (Market Value to Realized Value) ratio indicates that the crypto may still have room for price appreciation before entering overbought conditions. This development has led many analysts to believe that the asset is unlikely to experience a sharp correction anytime soon.
Furthermore, the MACD (Moving Average Convergence Divergence) indicator provides an additional layer of support for this upward trend. The recent MACD bullish crossover signals a shift in momentum towards buyers, indicating a potential continuation of Ethereum’s rise.
Source: coincentral.com
