Ethereum ($ETH) is moving toward a huge price breakout. As per a popular crypto analyst going by Javon Marks, Ethereum ($ETH) is expecting a significant breakout with the next price targets standing at $4,800 and $8,000. The crypto analyst recently took to X to discuss the current bullish scenario of the Ethereum ecosystem in the crypto market.
Ethereum Eyes ,800 and ,000 as Latest Price Targets Amid Speculation of Big-Scale Breakout
Javon Marks considers the current outlook of Ethereum (ETH) to be a notable sign of the upcoming price action. As per the analyst, Ethereum is making its way toward the exclusive price target of $4,800. In addition to this, after surpassing this point it will move toward $8,000. This anticipated price movement gets considerable support from Ethereum’s Relative Strength Index (RSI). The respective metric shows the formation of higher lows as well as bullish divergences. This strengthens the underlying potential of Ethereum ($ETH).
Based on the latest market developments, Ethereum has recently accomplished a bottom ranging between $1,600 and $1,800. Subsequently, the top altcoin’s price has started a sharp upswing. The RSI indicator has also displayed a sharp spike, complementing the likelihood of a further upward trajectory. In line with the new statistics, this technical structure replicates the former bullish patterns that ultimately paved the way for huge price rallies.
$ETH Hovers Around ,435, Raising Potential for Likely Price Upturn
At present, $ETH is trading at $2,437, highlighting a 6.01% rise over 24 hours. Moreover, the weekly and monthly price movements indicate 32.85% and 62.72% surges. Hence, according to Javon Marks, the ongoing positive market standing of Ethereum is setting stage for its potential jump to $4,800. Moreover, the continued price upswing could further elevate its price to $8,000.
