- Ethereum confirms hidden bullish divergence on the charts
- $4,900 is the next major target if momentum continues
- A breakout above could set the stage for an $8,000 rally
Ethereum ( ETH ), the second-largest cryptocurrency by market cap, is making waves once again. Technical analysts have identified a confirmed Hidden Bullish Divergence, a powerful indicator that often precedes major upward moves. This signal has sparked fresh optimism in the crypto community, as many now expect Ethereum to move past $4,900 — and possibly beyond.
A Hidden Bullish Divergence occurs when the price forms higher lows while a momentum indicator, such as the Relative Strength Index (RSI), forms lower lows. This setup suggests that even though there was a pullback, the underlying strength remains intact, and buyers are stepping in quietly. The result? A potential surge in price.
$4,900 in Sight, But the Story May Not End There
The immediate target for Ethereum based on this divergence pattern is around $4,900. This level has served as a psychological and technical resistance in the past, and a clean break above it could signal a full return of bullish momentum.
But analysts aren’t stopping at $4,900. With renewed strength and broader market support, Ethereum could aim for $8,000 or more in the longer term. Such a move would likely be fueled by increased demand from institutional investors, upcoming Ethereum upgrades, and a growing DeFi and NFT ecosystem built on its network.
What to Watch Moving Forward
While technical signals like the Hidden Bullish Divergence offer strong hints, it’s crucial to monitor volume and macroeconomic trends. Ethereum has shown resilience in recent months, and this divergence could be the spark that ignites its next major leg up.
If Ethereum breaks $4,900 with strong volume and positive sentiment, the $8,000 mark may become more than just a dream — it could become a realistic target in the next market phase.
Read Also :
- Bitcoin Whales Accumulate $4B in September – MAGACOIN FINANCE Joins ETH and LINK on Top Analyst Picks
- Bitcoin: One Giant Leap for Mankind
- Grayscale Moves to Launch Dogecoin ETF With GDOG Ticker
- XRP Price Surge Could Hit $9.90 Soon
