Analyst Says Ethereum Is on Edge of Having a New All-Time High North of $5,000

Crypto analyst Michaël van de Poppe has stated that Ethereum's ecosystem stands out for investment, highlighting the potential for ether to surpass $5,000. Recently, ether (ETH) exhibited a gain of 1.50%, with trading volumes significantly above the seven-day average. After a rally that reached a high of $3,887.35, ether faced a late-hour rejection around the $3,860–$3,880 range, indicating that sellers remain active. Current levels show support between $3,680 and $3,720, while a reclaim above $3,880 could signal a continuation towards record highs. Van de Poppe's analysis suggests that increased developer activity and a strong product ecosystem make Ethereum appealing, yet the immediate focus for traders centers on breaking the noted resistance levels. The technical indicators reflect an uptrend tempered by the action of sellers at the higher range, as bulls and bears vie for control over the next price movements. As the cryptocurrency market continues to unfold, ether's ability to reclaim key levels will be crucial for its path forward.

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