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Ethereum Price Prediction: Bullish Signals Hold
Despite a recent dip across crypto markets, Ethereum [ETH] bulls remain firmly in control, with traders continuing to bet on a breakout above $5,000 in the near term.
$5K Target Still in Sight
On-chain prediction markets hosted by Myriad, developed by Decrypt’s parent company Dastan, show strong conviction in Ethereum’s upside. As of now, traders assign an 80% probability on one market—and 73% on another—that ETH will hit $5,000 within the next four months.
These odds, while slightly lower than the 90%+ confidence seen when ETH neared $4,950 last week, remain elevated—underscoring market optimism.
Technical Indicators Support the Bullish Case
After briefly touching a new all-time high above $4,900, ETH corrected by 10% amid broader liquidations triggered by a $2.7 billion BTC sell-off. But Ethereum has since bounced back, with key indicators reinforcing the bullish momentum.
- ADX (Average Directional Index) sits at 39, suggesting strong trend strength. Levels above 25 indicate trend confirmation; near 40 signals powerful momentum.
- RSI (Relative Strength Index) currently reads 58—a “sweet spot” suggesting room for further gains without being overbought.
- EMA (Exponential Moving Average) structure remains bullish. The 50-day EMA sits above the 200-day EMA, confirming a golden cross that signals longer-term strength.
Breakout Setup in Play
The Squeeze Momentum Indicator has turned “on,” hinting at a potential breakout phase following recent consolidation. Combined with a green recovery candle, this suggests the market remains in bullish territory—though short-term volatility remains a risk.
In summary, Ethereum’s technical posture and sentiment metrics point toward continued upside, with bulls eyeing $5K as the next milestone.
