New ATH insight for Ether after breaking above $4K; check forecast
Main Idea
Ether (ETH) surged past $4,000 and could reach a new all-time high above $5,000 due to institutional demand and positive market conditions, with technical indicators supporting further bullish momentum.
Key Points
1. ETH broke above $4,300 after a 20% rally, closing above the $4,000 psychological level and currently trading at $4,275.
2. Technical indicators like MACD (129) and RSI (75) suggest a bullish bias, with potential to reach the December 2021 high of $4,488 or surpass the all-time high of $4,891.
3. The SEC's clarification that liquid staking does not involve securities has boosted institutional interest, potentially increasing liquidity and on-chain activity.
4. A Wyckoff pattern breakout indicates ETH could rally further, but a market correction could see it drop below $3,500 if the $4,010 support level fails.
Description
The cryptocurrency market had a positive performance last week, with most coins up 5% or more during that period. Bitcoin broke above the $122k level and could be on its way to another all-time high. However, Ether stood strong and came out as the best performer among the top 10 cryptocurrencies by market cap. Ethereum’s native coin added 20% to its value during that period, breaking above the $4k psychological level in the process. Analysts are now predicting a new all-time high for Ether as th...
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