Ethereum $ETH , the second-largest cryptocurrency, is making waves, climbing to around $3,730 after a notable upward trend.
The buzz in the market suggests it might just be gearing up to hit the coveted $4,000 mark. With key bullish indicators flashing on the charts, traders and investors alike are feeling optimistic.
One standout signal is the recent golden cross—when the 50-day EMA rose above the 200-day EMA—a classic bullish formation that often fuels additional buying momentum.
$ETH is also holding strong above its 21-day EMA, a level that has provided consistent support during this rally. Volume trends are another bright spot, with trading activity steadily climbing, a clear sign of growing investor confidence after the quieter bearish months earlier this year.
However, it’s not all smooth sailing. Ethereum’s RSI has reached 65, skimming the edge of overbought territory. This could mean a short-term pullback or some consolidation before the next leg up.
Additionally, the $3,700 level looms as a key resistance point that could slow progress. Despite these challenges, Ethereum’s broader outlook remains positive.
With growing adoption of layer-2 scaling solutions and the booming decentralized finance (DeFi) sector, the fundamentals are as strong as ever. A clear break above $3,700 with sustained volume could open the door to $4,000, but faltering momentum might lead to retests of lower support at $3,300 or even $3,000. #ETH🔥🔥🔥🔥 #altsesaon