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Ethereum bulls focus on uplift to US$5,000

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[12/5/2021] Technical levels appear to have aligned for a sustained uptrend in the near term.

Ethereum is flying the bullish flag above the horizon in the cryptocurrency space. Data by CoinGecko show that Ether has incurred double-digit gains barely a day after reclaiming support at US$4,000. The flagship smart contract token has attracted US$64 billion in trading volume over the last 24 hours, US$2 billion above Bitcoin’s.

Ethereum is exchanging hands at US$4,340 at the time of writing. Buyers have their eyes on levels beyond US$4,400 to trigger more buy orders. In the meantime, the Moving Average Convergence Divergence (MACD) has a massive bullish signal.

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