Ethereum Price Eyes $5,000 as Rally Pattern Repeats

The Ethereum price has been rising steadily over the past 24 hours, up 3.32% to $2,437.

This surge in price has caught the attention of crypto enthusiasts and analysts alike, with some pointing out that the current pattern resembles the one seen during the tariff-driven crash earlier this year.

If the pattern holds true, Ethereum could potentially reach $5,000, according to chart watchers.

The derivatives market is also heating up, with open interest sitting at $31.48 billion, a 1.24% increase from yesterday.

Short sellers have been getting squeezed, with over $412.93 million in ETH positions being liquidated over the past 24 hours.