EthereumLong
What’s Your Bullish Price Target for ETH?
Ethereum has been trailing behind some of the alts in the top 100 and even BTC when it comes to parabolic runs. However, I’ve been analyzing the charts, and things are starting to look VERY interesting. Here’s my take:
- On the **3-day chart**, I see a strong **resistance level around $3,830**.
- Using a **Fibonacci extension**, the **1.6 level targets just over $5,000**—a number that feels astronomical but achievable in a bullish scenario. 📈
- The **daily MACD** is screaming **LONG**, indicating potential upward momentum.
### **Positive ETH Data to Back It Up**
Ethereum's fundamentals are stronger than ever:
1. **Total Value Locked (TVL):** Ethereum continues to dominate DeFi, holding **58%+ of all DeFi TVL** at ~24B.
2. **24H Trading Volume:** Ethereum sees an average of **$6-8B traded daily**, showing its massive liquidity and adoption.
3. **Burn Mechanism:** Since the London Hard Fork (EIP-1559), over **3.9M ETH (~6.3B)** has been burned, contributing to its deflationary narrative.
4. **Staked ETH:** With **32M ETH staked**, nearly **26% of the supply** is locked up, reducing selling pressure.
### **What's Driving the Bullish Sentiment?**
Recent activity in the **layer-2 ecosystems** is fueling optimism:
- **Optimism (OP)** and **Arbitrum (ARB):** Both L2s have seen substantial adoption, with millions of dollars in daily transactions and climbing TVL.
- **Lido Finance (LDO):** The largest liquid staking protocol continues to thrive, with **~30% of all staked ETH** on its platform.
These projects are growing **on Ethereum**, reinforcing the network’s pivotal role in the crypto ecosystem.
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What’s your price target for ETH in a bull run? Do you see $5,000 as achievable, or do you have even higher targets in mind? Let's discuss!
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