Ethereum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-surges-towards-4000-mark" data-wpel-link="internal">Ethereum Surges Towards $4,000 Mark</a><br></p>
<p style="text-align: justify">Ethereum (ETH), the largest altcoin, saw a remarkable 25% increase last week, boosting its price to $3,900. Market watchers are now anticipating an altcoin season, with ETH on the verge of crossing the $4,000 barrier this week. The altcoin commenced the week with a 2.16% gain, supported by a 70% surge in intraday trading volume, fueling hopes for a sustained upward trend.</p> 
<h2 id="what-does-ethereum-s-price-chart-indicate">What Does Ethereum’s Price Chart Indicate?</h2> 
<p style="text-align: justify">Over the past 15 days, ETH experienced a 35% ascent, disrupting the short-term pullback phase. The altcoin is nearing a significant breakout point, with <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> keenly observing whether this momentum could lead to an all-time high. The rising trend starting from $2,850 resulted in a falling wedge formation breakout, forming a rounding bottom formation. A critical neckline at $4,000 signals a potential breakout rally.</p> 
<p style="text-align: justify">In the last 72 hours, ETH surged by 5%, creating a three white soldiers pattern, which signifies strong upward momentum. The MACD indicator shows an upward trend, despite a brief pause as the histogram decreases. The RSI line has flattened near the overbought region, indicating some consolidation below $3,900. However, the week’s initial rise suggests a positive outlook, with the goal of reclaiming the $4,000 level.</p> 
<h2 id="how-has-network-activity-and-open-interest-increased">How Has Network Activity and Open Interest Increased?</h2> 
<p style="text-align: justify">Ethereum’s network activity significantly escalated over the past week, with the total number of ETH transfers increasing by 72.45% and active wallet addresses rising by 3.58%, indicating higher network participation. Transactions also climbed by 3.84%, reaching 1.13 million, demonstrating robust network performance and engagement.</p> 
<p style="text-align: justify">Additionally, Ethereum’s open interest rose by 6.84% in the last 24 hours to $13.17 billion, reflecting a 51.06% increase on a weekly basis. The positive funding rate of 0.01641022 indicates a bullish trend, with traders willing to pay premiums. Net flow data to cryptocurrency exchanges showed a significant 1087.48% drop in the last 24 hours, indicating lower net deposits compared to the 7-day average.</p> 
<h2 id="actionable-insights">Actionable Insights</h2> 
<p style="text-align: justify"> – The critical $4,000 neckline signifies a potential breakout rally.<br> – A three white soldiers pattern indicates strong upward momentum.<br> – Increased network activity and open interest suggest robust market engagement.<br> – Lower net deposits to exchanges imply reduced selling pressure. </p> 
<p style="text-align: justify">The current uptrend and favorable market sentiment suggest a possible rise for ETH in the coming week. On-chain indicators and technical analyses support the likelihood of ETH surpassing the psychological $4,000 level. If achieved, Ethereum could target $4,698 based on Fibonacci retracement levels. Furthermore, any <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">news</a> regarding spot Ethereum ETF listings could propel ETH to the 1.618 Fibonacci level, corresponding to $5,841.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-surges-towards-4000-mark" data-wpel-link="internal">Ethereum Surges Towards $4,000 Mark</a></h5>

Ethereum Surges Towards $4,000 Mark

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