🚀 There is exciting news on Ethereum (ETH) after Bitcoin hit a new high of $76,460! 🎉 I heard that there is hope that ETH can break above $4000 in the near future.
With the bullish surge in the market, ETH has just broken out of a bearish range after months of consolidation. 📈 Now, the bulls are back to Ethereum, so there is potential for another big rally. The ETH weekly chart looks very bullish! The MACD is almost showing a bullish crossover, and selling pressure has been relatively low since September. 💪
However, don't be too complacent! 🤔 Despite the optimism, there are also bearish indications. The amount of reserves on exchanges continues to increase, and several indicators such as transfer volume and the number of active addresses are showing a decline. 📉 However, the good news is that open interest for long positions is increasing, indicating that market participants are still interested in ETH. 🤑
If ETH can break the yearly high of $4000 or hold above $3500, this rally could get even more interesting. 🌟 So, keep an eye on ETH price movement, okay! 👀💥
