Ethereum Targets $5,000 After Falling Wedge Breakout

2025-12-06 13:31

Ethereum has confirmed a falling wedge breakout on its daily chart, indicating a potential move towards the $5,000 mark. This technical development is bolstered by strong network metrics, including a DeFi total value locked (TVL) of $68.623 billion and a stablecoin supply of $166.412 billion, according to DeFiLlama. Additionally, daily chain fees stand at $313,405, reflecting robust network activity. The recent Fusaka upgrade has further enhanced Ethereum's scalability by improving data availability and block space efficiency. Currently trading at $3,019, Ethereum maintains strong support levels, with analysts from CliftonFX highlighting the resilience of higher timeframe supports.

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