Ethereum’s $4,000 Target Alive as Historic Rally Signs Emerge

ETHUSDT is currently trading at $3,680, just 9% away from the critical $4,000 resistance that many investors have been waiting for over the past seven months. The altcoin is expected to continue its upward momentum despite the recent consolidation, with the potential to breach the $4,000 mark soon.

Looking at broader technical indicators, the NUPL (Net Unrealized Profit/Loss) suggests that ETHUSDT is poised for a significant rally. The NUPL indicator, when reaching a threshold of 0.5, traditionally signals a pause in the uptrend, followed by a sharp rally.

$BINANCE:ETHUSDT is currently nearing this threshold, which, in the past, has marked the beginning of powerful upward price action.

As long as ETHUSDT remains above its key support levels, the price is likely to surge toward $4,000. If Ethereum can maintain its momentum, a breach of $4,000 could act as a catalyst for further gains.

However, should unforeseen selling pressure arise, $BINANCE:ETHUSDTprice could slip below the $3,530 support level. In such a scenario, Ethereum may fall to $3,131, invalidating the current bullish outlook. The key will be maintaining support and capitalizing on the retail-driven surge.