Ethereum has been trading at its highest levels since late July, hovering around $3,470. This marks a significant rebound for the second-largest cryptocurrency, which has managed to hold above the crucial 200-day moving average (MA) at $2,965. By maintaining this level, Ethereum confirmed a bullish price structure, paving the way for continued momentum as it approaches its next milestone—yearly highs near $4,000. Top analyst and investor Carl Runefelt recently shared his technical analysis on X, pointing out that Ethereum’s price action has built a solid foundation for further growth. According to Runefelt, Ethereum is poised for a substantial rally once it breaks above key resistance levels, signaling increased confidence among traders and investors. Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million – Local Top Or Continuation? This bullish sentiment is further fueled by Ethereum’s consistent on-chain activity and growing institutional interest, which continue to support its upward trajectory. However, breaking past $4,000 will require Ethereum to overcome resistance zones that have historically triggered pullbacks. As ETH consolidates gains, market participants are watching closely for signs of the next ..
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