Ethereum Approaches $4,400 Resistance; Breakout May Lead to $4,800 Amid Strong On-Chain Profitability Signals

Key Points

1. Ethereum has advanced from $2,400 to around $4,190 and is nearing the $4,400 resistance level, with potential to test the all-time high of $4,800 if it breaks through.

2. The MACD histogram indicates growing bullish momentum, and a confirmed close above $4,400 could open a path to higher price targets.

3. On-chain metrics like MVRV_norm and NUPL_norm show broad holder profitability without reaching historically overheated levels, supporting the bullish outlook.

4. A sustained breakout above $4,400 could target $4,800 in the near term, with medium-term potential depending on market conditions.

5. The $4,400 resistance level is critical in determining Ethereum's upcoming market direction.