Ethereum (ETH) is attracting market attention again. With strong signals captured in major technical indicators, industry experts are forecasting that ETH prices could rise to $5,000 (approximately 69.5 million won). Despite recent adjustment phases, network activity and institutional investment demand are showing strong potential for a powerful rebound.
Crypto technology analyst 'Titan of Crypto' diagnosed that Ethereum is forming a 'Bull Pennant' pattern, suggesting the possibility of rising to $5,000 if the pattern's upper breakout is successful. Additionally, market strategist Jonathan Carter analyzed a breakout of the 'Broadening Wedge' on a three-day chart, with his targets set even higher at $5,500 (approximately 76.45 million won) and $6,850 (approximately 95.27 million won).
This bullish scenario is supported by data-based evidence. According to on-chain analysis, Ethereum processed a total trading volume of $238 billion (approximately 331.2 trillion won) in July, growing 70% compared to the previous month, and recorded an all-time high of 17.55 million active addresses. The number of transactions also reached 46.67 million, breaking the highest record since December 2021. This suggests that the Ethereum network is being actively used and its fundamentals are solid.
However, breaking through the short-term resistance line is considered a key variable. According to analyst Daan Crypto Trades, Ethereum is currently trapped in a narrow box between a support line of $3,500 (approximately 48.65 million won) and a resistance line of $3,850 (approximately 53.57 million won). If ETH breaks above $3,850, it could gain significant upward momentum, but conversely, if it falls below $3,400 (approximately 47.26 million won), it could shift to a short-term downward trend.
According to coin data provider CoinGecko, Ethereum is currently trading at around $3,721 (approximately 51.72 million won). It has risen 45.8% in the past 30 days but has declined by -3.7% in the past week, which is also a signal of increased short-term selling pressure.
Experts diagnose that the medium-term outlook for Ethereum remains bullish when considering technical charts, on-chain indicators, and institutional fund inflows. However, whether it can reach $5,000 will depend on breaking through the 3,850-4,100 dollar (approximately 53.57-56.99 million won) range. For now, Ethereum's price movement hinges on how quickly it can break through this resistance zone.
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