đđ° Ethereum Is Ready to Boom: Analysts Predict It Could Rise to $5,000 đđ
Ethereum, boosted by key technical indicators and recent regulatory developments. The U.S. Securities and Exchange Commission (SEC) approved eight Ethereum Spot ETFs on May 23. This milestone increased Ethereum dominance by 19.56%, according to TradingView data. The approval has stimulated growing investor interest, signaling a potential bull run for Ethereum.
Blockchain Mane highlights the importance of the Fibonacci Retracement pattern, a key support indicator that determines Ethereum's recovery potential.#Fibonaccilevels show resistance targets at $5,080.60 and $6,231.83. Currently, Ethereum is trading at $3,802, significantly lower than its peak of $4,878 in November 2021.
