Ethereum Surpasses $4,100 Resistance, Indicating Potential for Further Gains and New Price Targets
Main Idea
Ethereum has surpassed the $4,100 resistance level, closing at $4,249, indicating a strong bullish trend and potential for further price gains.
Key Points
1. Ethereum broke through the $4,100 resistance level, marking its strongest weekly close since 2021.
2. The Market Value to Realized Value (MVRV) ratio is at 2.0, suggesting average holders have unrealized gains of about 100%.
3. Immediate upside targets for Ethereum include the $4,500 resistance and the all-time high region above $4,800.
4. Historical MVRV danger zones near 2.4 and 3.2 suggest more room for price expansion before reaching overheated levels.
5. The recent close above $4,100 is backed by consecutive weekly gains, indicating strong momentum.
Description
Ethereum has broken through the $4,100 resistance level, closing at $4,249, marking its strongest weekly performance since 2021 and indicating potential for further gains. ETH reached $4,249, surpassing the $4,050–$4,100
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