Ethereum Bull Run: Golden Cross Sparks $5,000 Target Hopes

Ethereum's price has been on the rise, and analysts are pointing to a potential target of $5,363 as a possible upside. The MVRV Ratio crossed above its 160-day moving average on August 19, forming a golden cross pattern. Since then, Ethereum's price has surged by 34%, climbing from $1,905 to a high of $2,547.

Whale activity has also picked up during this rally, with wallets holding more than 10,000 ETH increasing by 1.74% over the past week. Seventeen new whale addresses joined the network, suggesting larger holders are positioning for further gains rather than preparing to exit.

The trend of coins leaving exchanges is also a positive sign, as it reduces readily available supply. Over 180,764 ETH, valued at near $440 million, moved off exchanges in the past week. If Ethereum clears its next resistance zone between $2,722 and $2,970, the path toward $5,363 becomes more plausible.