Ethereum (ETH) surged by 5.21% on Wednesday, breaking a four-day consolidation streak. This price movement has led to the formation of a key support level, potentially offering the last buying chance before Ethereum sets a new all-time high (ATH). Multiple on-chain and technical indicators now suggest that Ethereum's price is set to target $5,200 next.
The analysis is supported by four major reasons highlighted in the article. Ethereum enthusiasts and investors may see this as a pivotal moment for the cryptocurrency as these indicators present an optimistic forecast.