Ethereum Rally Continues? $6,500 Price Target Emerges

Recent price action for Ethereum shows a strong rally from the lows of $1,850, reaching new highs and pushing towards a potential target of $6,500. Several factors are contributing to this upward momentum. A large whale transaction of 17,836 ETH, worth approximately $80 million, has been observed on exchanges. This accumulation suggests continued bullish sentiment despite recent dips. Ethereum’s chart reveals potential for a sustained advance, with resistance levels around $5,200-$6,000, while support at $4,450 from the 4-hour trendline is proving crucial for holding momentum.