Ethereum's (ETH) Path to $4,000
Ethereum (ETH) continues to impress as it sees significant gains, climbing 15% in the past week. It has surpassed the crucial $2,500 resistance level, indicating a strong bullish trend. This momentum is largely due to increased buying activity in both perpetual and spot markets, as well as trading above the 50-day EMA — a key indicator of market strength. As Ethereum pushes towards its yearly high of $4,000, the 30-day moving average for ETH funding rates also suggest a shift from a prolonged decline to a bullish stance. According to Coinglass data, its market cap has reached $12.37 billion, nearing pre-crash levels seen in early August.
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