Ethereum Surges 18% in Week, Eyes 23% Gain to $3,900

Ethereum's recent price surge has sparked significant interest within the crypto community, with many speculating about its next major move. The cryptocurrency has seen an 18% increase in the past week, pushing its price between $2,600 and $3,100. This upward momentum has led to bullish sentiment, with Ethereum's ten-day moving average matching its 100-day average at just over $3,000, indicating stability. The Relative Strength Index (RSI) above 60 suggests that Ethereum is not in overbought territory, leaving room for further growth.

If Ethereum can break through its nearest resistance at $3,300, it could potentially climb to its second resistance near $3,900, representing a growth potential of around 23%. However, maintaining momentum will require staying above the support level at $2,300. The current technical indicators point to a positive trajectory for Ethereum, with the potential for significant gains in the near future.

According to the analysis, Ethereum's bullish momentum signals a possible breakout, with $3,900 in sight and $4,800 emerging as a realistic target if key resistance levels are cleared. The strong technical indicators and positive market sentiment suggest that Ethereum is well-positioned for a sustained move, which could define the next leg of the crypto cycle.