Ethereum's $5K Push Gains Momentum Despite Market Turmoil

Ethereum's $5,000 Target Gains Momentum Amid Market Volatility

Despite recent market turmoil, Ethereum's path towards $5,000 is becoming increasingly apparent. The cryptocurrency has fallen 8% to $2,500 following a $1.5 billion heist on Bybit, but analysts point to technical signals indicating a long-term rally. Ethereum has formed an ascending triangle pattern, which typically precedes significant price increases. The cryptocurrency's leadership in the market and institutional support sustain confidence in its potential.

Ethereum's recent price fluctuations have seen it fall below $2,500, indicating enduring resistance close to its 200-day moving average. However, technical experts note that the asset is resilient, with a significant support level emerging at $2,100. Long-term holders are advised to accumulate when an ascending triangle pattern appears, which is characterized by rising lows and a flat upper resistance. Despite recent price fluctuations, Open Interest data indicates a 2.09% increase in trading activity, suggesting resumed market involvement.

Cardano, another prominent cryptocurrency, is testing resistance at $0.83 as network activity climbs. The asset is trading at $0.7809, up 1.08% in 24 hours, with active addresses rising alongside price movements. An ascending triangle formation mirrors Ethereum's pattern, hinting at potential upside if bullish momentum holds. Support levels at $0.7350 and $0.7150 provide a safety net against sudden sell-offs. Market data reveals balanced sentiment, with a long-short ratio of 0.92 and bid-ask volume at 68.09%. While these metrics suggest cautious optimism, Cardano faces stiff competition from Ethereum's expanding ecosystem and newer projects offering higher growth potential.

Mutuum Finance, a decentralized lending and borrowing platform, is gaining momentum in its presale phase. With over $1.4 million raised and 2,790 holders secured, the project is attracting attention for its structured entry into the DeFi space. Early participants stand to gain a 400% return at launch, where MUTM is expected to list at $0.06. Post-launch projections estimate a climb to $0.5–$10 as