Ethereum (ETH) is more likely to increase the Cryptocurrency market, $ 4,625, and 4% of the record high of $ 4,891. The second largest cryptocurrency was nearly 30%last week and surpassed all other best altcoins.
Driving this rally is the SPOT ETHEREUM ETF, which leads to $ 1.55 billion in two days. Blackrock's Etha Fund is leading the claim with executives' assets exceeding $ 15.5 billion.
Instrument accumulation is adding fuel to the fire. Bitmine Immersion Technologies announced plans to control up to 5%of the total supply by planning to raise up to $ 24.5 billion for ETH purchases. SHARPLINK was dedicated to almost all profits in the acquisition of Ether Lee with a $ 389 million fundraiser.
Analysts aim for more than $ 5,241
The technical indicator suggests that Ether Lee's rally has more space. Encryption analyst ALI Martinez quotes the MVRV price band and refers to the movement to $ 5,241. Trader Yashas Bath, meanwhile, believes that if Bitcoin records $ 150,000, Ether Lee can exceed $ 8,500 based on the historical market cap.
According to Santiment's on -chain data, retailers are historically sold in Rally, a pattern before additional prices. However, the Ministry of Corporate Treasury actively accumulates, creating a minimum resistance to the escape with fresh high.
ETH's price trends to the upside on the daily chart. Source: ETHUSD on Tradingview
Ether Lee (ETH) dominates Altcoin
Other major Altcoins, such as Solana (+12.9%), Cardano (+10%), and Chainlink (+12%), have a strong profit, but analysts are more likely to “Ether Leeum Season” than the usual Altcoin season.
Benjamin Cowen shows Ethereum's dominance by 50% reduction in ETH after April, except ETH and BTC.
Ether Leeum's foundation remains a powerful state, surpassing the highest total value lock (TVL) since 2022. The derivatives market activities have also been heated up, reaching $ 12.1 billion since March 2024.
If momentum continues, rest of $ 4,750 or more will allow you to send ETH for more than $ 5,000 and enhance the institutional favorite position with Bitcoin.
The image of CHATGPT, the ETHUSD chart of TradingView
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