Ethereum surges to a historical high, follow Powell's dovish hints, targeting $6,000 :

Ethereum has broken through the $4,800 mark for the first time in nearly four years following Powell's moderate comments at Jackson Hole.
Since June, ETH has surged over 100%, driven by the inflow of $9 billion in ETF funds and the acquisition of 3 million Ethers in DATs.
Ethereum is about to validate another bullish flag pattern, having just set a new high.
Ethereum (ETH) surged to a new historical high, breaking $4,868 for the first time on Friday, according to data from the cryptocurrency exchange, marking the first time since November 2021.

The surge of top altcoins follows the dovish hints from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium on Friday. "The balance of risks may require adjustments to the policy stance," Powell said, suggesting that a rate cut could be on the table at the next Federal Reserve policy makers' meeting.

Ethereum has surged over 100% since July and over 200% since early April, when it reached $1,500.

The accumulation of institutional and corporate treasury has driven the narrative of Ethereum.
The explosive growth of top altcoins is also significantly influenced by the digital asset treasury (DATs) and the continuous accumulation by institutional investors.

Since the beginning of June, the corporate Ethereum treasury has acquired nearly 3 million Ether, led by the BitMine Immersion (BMNR) supported by Thomas Lee and Joseph Lubin's SharpLink Gaming (SBET).

In terms of institutions, US spot Ethereum exchange-traded fund (ETFs) has attracted over $9 billion since June, nearly three times the total net inflow in its lifetime prior to that month, according to SoSoValue.

The trend shift of Ethereum is based on regulatory progress, the U.S. Securities and Exchange Commission (SEC) has provided clarity on liquid staking, and the GENIUS bill related to stablecoins has also been passed.

Thomas Lee predicts the "financialization of everything" and describes Ethereum as "the future track."

Last week, Standard Chartered analysts revised Ether's year-end target to $7,500, citing institutional demand and regulatory progress.

Ethereum Price Prediction: ETH Aims for $6,000 After Setting New All-Time High
Ethereum experienced $345.16 million in futures liquidations over the past 24 hours, which includes $80.27 million and $264.89 million in long and short position liquidations respectively.

Ether reached a new all-time high for the first time since November 2021. This surge occurred earlier this week after the top altcoin rebounded from a support level near $4,100.

If Ether manages to close firmly above its historical high of $4,868, we might see Ether validating another bullish flag, preparing for a potential move towards $6,000. The target is obtained by measuring the height of the flag and projecting it upwards from the potential breakout point.

From a negative perspective, Ether needs to maintain a support level of $4,100 to sustain a bullish bias.

The Relative Strength Index ( RSI ) is approaching its overbought area, while the Moving Average Convergence Divergence ( MACD ) is about to break its signal line. This indicates strong bullish momentum.

A daily candlestick closing price below $4,100 will invalidate this theory and may cause Ether to move towards the support level of $3,472.

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