ETH has risen 7.5% in the past week, showing momentum towards the $4,000 mark. The golden cross, bullish technical indicators, and the current RSI (Relative Strength Index) of 63.6 suggest that ETH has the potential to continue rising. However, the market remains at a critical moment, and support and resistance levels will determine its trend.
Whale activity is a key factor in the dynamics of the Ethereum market, rebounding after a brief dip in early January. The number of wallets holding at least 1,000 ETH has climbed to 5,615, indicating a revival of confidence among large investors. Analysts believe that if this trend continues, this accumulation could further drive prices upward.
Additionally, the RSI has recently pulled back from overbought levels, reflecting a neutral to bullish sentiment. While rising to 70 may reignite upward momentum, a drop below 50 could indicate a weakening momentum.
The golden cross formed by ETH earlier this month supports a bullish outlook, with resistance at $3,827 being the next key target. A breakout above this level could pave the way for $4,000, but maintaining the support level at $3,543 is crucial to avoid a downturn.

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