Key Price Analysis Points:
Massive Surge: Ethereum price skyrockets 19.23% in a single day, its biggest daily gain since May 2021.
Sellers Squeezed: Short liquidations reach $80 million, the highest in 90 days.
Bitcoin Boost: Bitcoin crossing $70,000 triggers a market-wide bullish trend.
ETF Speculation: Ethereum ETF approval rumors fuel buying pressure, with price surging past $3,500.
Technical Indicators Bullish: Breakout from falling wedge pattern, bullish crossovers in VI lines, and RSI in overbought territory all suggest a strong uptrend.
Will Ethereum Hit $10,000?
The possibility of an Ethereum ETF approval, coupled with the ongoing bull run, raises the question: can Ethereum reach $10,000?
Read the full article for a deeper analysis of the Ethereum price rally, including the impact of potential ETF approval and technical analysis forecasts.