Ethereum Rally Continues With Bullish Targets Above $3,900
By: bitcoin ethereum news|2025/05/11 00:45:04
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The underperformance shown by ETH for a long time dragged the overall market capitalization by 17% this year. The community sentiment data from CoinMarketCap reveals that 80% of the traders are expecting short-term gains, and the market is still bullish. After so long, Ethereum (ETH) has witnessed significant gains of 29% between May 8 and May 9. Also, it ended a 10-week bear market that reached its lowest point at $1,385 on April 9. At the press time, ETH is trading at $2421, 3.12% up in the last 24 hours and 32.12% up in the past seven days. The overall market capitalization stands at $291.69 billion, having an overall volume of $29.93 billion. As per the data from Trading View, if the bullish momentum continues (one-month), ETH can test its first resistance at $3947, followed by the second resistance at $4420.8. And, if the trend is reversed, the asset will fall to its first support level of $2413.4, followed by the second support level of $1939.7. It will be interesting to see if this really continues or just leads up to another test of the $2000 level. The underperformance shown by ETH for a long time dragged the overall market capitalization by 17% this year. This has also led to a reduction in the investor’s confidence. Bullish Momentum Builds as Traders Eye $3,947 Resistance The community sentiment data from CoinMarketCap reveals that 80% of the traders are expecting short-term gains, and the market is still bullish. The TradingView Technicals (1-day) also suggests a strong buy situation with neutral oscillators and strong buy moving averages. While shorter-term metrics like the exponential moving average (EMA10) stand at $2046.4. Similarly, EMA 50,100, and 200 stand at $1,905, $2,124.9, and $2,428.3, respectively. As per the data from CoinGlass, the token witnessed a liquidation of $126.48 million in the past 24 hours. Highlighted Crypto News Today: German Police Seize $38M from eXch Platform Tied to $1.4B Bybit Hack Source: https://thenewscrypto.com/ethereum-rally-continues-with-bullish-targets-above-3900-in-sight/
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