ETH Bulls Eye $5K Break After Crossing $3K Threshold

Ethereum (ETH) is making waves in the crypto market as Arthur Hayes' bullish thesis comes to fruition. Cointelegraph highlighted the possibility of a price surge toward $5,000 if ETH breaks above $3,000.

The current price sits at $2,441.77 within the Bollinger Bands, with an upper resistance level at $2,592.16. The 50-EMA and 200-EMA continue to anchor the bullish structure, while the MACD registers a golden cross at 126.57.

However, the RSI(14) is stretched to 94.83, indicating a probable healthy retracement toward the 50-EMA support before continuation. Traders are keeping an eye on the $2,592 level for confirmation of the next leg higher.