Ethereum’s (ETH) Surprising Next Key Price Targets Hinted by This Indicator

Ethereum’s next key price targets have been indicated by the MVRV Pricing Bands indicator, according to crypto analyst Ali. The targets for ETH are projected to be $3,830 and $5,100, representing potential increases of 58% and 110% respectively. Ali believes that Ethereum has a clear path ahead with no significant supply barriers, suggesting the potential for further gains. A strong demand wall at $2,000 is expected to provide support and cushion any corrections. As of now, Ethereum has risen 6% in the past 24 hours to $2,425, following Bitcoin’s ascent beyond $45,000. The approval of an exchange-traded fund investing in Bitcoin may have fueled bullish bets in favor of cryptocurrencies. In order to reach the aforementioned targets, Ethereum may need to achieve the intermediate goal of reaching the $3,000 price level. A break and close above the December 28 high of $2,448 would signal that the bulls are still active, potentially leading to a new uptrend towards $3,000. Conversely, if bears regain control, Ethereum could find support at the daily MA 50 at $2,185, with a further potential decline to the $2,148 low.