Ethereum’s [ETH ($2,922.69)] price has been on an impressive upward trajectory – trading at $3,898 at press time – with analysts predicting a potential breakout to $5,000 or even higher.
Ethereum’s rally is sparking renewed interest in altcoins. With some experts setting bold price targets for ETH, including a hopeful $7,000, the cryptocurrency market is closely watching how Ethereum’s momentum could influence broader market trends and potentially trigger an “altcoin season.”
Ethereum’s recent rally positions it near a critical inflection point, with price action breaking past $3,850. The RSI above 70 indicates overbought conditions but also reflects strong bullish momentum, suggesting potential continuation toward $4,000 and beyond.
OBV shows increasing accumulation, signaling strong demand as institutional inflows support the rally.
Key resistance lies at $4,200, a pivotal level for confirming a path to $5,000, while $3,650 serves as immediate support.
Ethereum’s performance against Bitcoin [BTC ($86,695.00)] in recent weeks highlights a rotation of capital into altcoins, fueling speculation of an upcoming altcoin season.
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