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Ethereum Having Golden Crossover: $4000 loading?

Ethereum (ETH) is currently one of the most prominent cryptocurrencies, driven by its smart contract capabilities and decentralized finance (DeFi) ecosystem.

After establishing strong support at $3,000, ETH has witnessed a slight bullish trend, with analysts projecting the possibility of a “golden cross” that could push its price beyond $4,000

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ETH Next Target

Current Price: $3,140

Market Cap: $378 billion

24-Hour Trading Volume: $12.5 billion

Circulating Supply: 120.4 million ETH

Total Supply: Unlimited, with annual issuance capped at 18 million ETH due to the London Upgrade burning mechanism.

Img src –Altfins

Price broke above $2,900 key level and 200-day moving average, which signaled bullish trend reversal.

We would be buying it on a pullback near $2,900 support with +20% upside potential to $3,550. The recent launch of ETH Spot ETFs could boost demand for ETH.

Weekly Price Analysis

Weekly Range: $3,100–$3,200

Trend: Neutral to slightly bullish, with resistance at $3,400.

Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Neutral.

Momentum is Bearish ( MACD Line crossed below MACD Signal Line) BELOW days ago. Price is neither overbought nor oversold currently.

Support and Resistance: Nearest Support Zone is $2,900.00, then $2,620.00. Nearest Resistance Zone is $3,550.00, then $3,900.00.

Key Indicator Values

RSI (Relative Strength Index): Neutral, hovering around 50.

MACD (Moving Average Convergence Divergence): Positive momentum is building.

50-Day & 200-Day Moving Averages: Neutral, indicating potential range-bound movement.

News Roundup

DeFi Growth: Ethereum’s decentralized applications (DApps) saw a 38% increase in usage this month.

Institutional Activity: The rise of “smart money” interest in ETH is fueling speculation of a prolonged rally.

Macro Developments: Grayscale’s reverse split of its Ethereum ETFs indicates institutional confidence.

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