Why I think ETH is heading towards $5,000+
Today, ETH is pushing higher even as BTC remains stuck in its sideways range. This could easily be explained by ETH finally capturing the spotlight with growing ETF interest.
Key indicators confirm there's plenty of fuel left for the climb:
1. RSI: RSI is sharply trending upwards but still hasn't entered overbought territory. This means there's room for further gains in the short term, though it's wise to watch out for any near-term cooldown.
2. MACD: MACD has confidently crossed upward and continues to rise, signalling the start of a fresh bullish trend. This is a strong bullish indication for the mid-term.
3. MVRV-Z score: Historically, ETH peaks see MVRV-Z scores in the 4–6 range. Right now, we're only at 1.17, meaning we've got plenty of runway left.
All signs point to ETH breaking above $5,000. Just keep your eyes open, it's coming!
h/t @capriole_fund
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