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#ETH Hits 4800# #ETH#
Ethereum (ETH) is breaking through critical resistance levels, with all eyes on the $4,800 level. On the daily chart, the 50- and 200-day moving averages have crossed upwards, a strong bullish signal. The MACD is moving in positive territory, and the increase in volume is also noteworthy. Furthermore, the ETH/BTC pair is strengthening in favor of ETH, indicating investors are turning to ETH.
On the fundamental front, rumors of an Ethereum ETF and the growth of the Layer 2 ecosystem are adding positive momentum to ETH. $4,800 is a technically achievable target, but considering volatility, it's advisable to use a stop-loss. $4,400 could be on the horizon in the short term, and $4,800 in the long term. While my long-term expectation is not investment advice, it's much higher.
Consequently, if this momentum is maintained, $4,800 seems quite possible as a psychological target. However, it's important to remember: The crypto market is volatile. It's essential to consider the risks before investing. ETH could reach $4800, but it seems patient and strategic investors will be the way to go.
About time this week or later?