Ethereum (ETH) surged 55.17% this month, experiencing a 2.47% pullback, likely a short-term correction.
The Market Value to Realized Value (MVRV) ratio shows positive momentum, indicating potential buyers stepping in for another upward move.
Liquidity inflow from traditional investors through spot exchange-traded funds (ETFs) and a rotation from Bitcoin to ETH are factors contributing to ETH's potential rally to $5,000.
Three key resistance levels at $2,756.30, $3,389.86, and $4,093.57 could present obstacles, but overall market sentiment supports an ETH rally to $5,000, establishing a new all-time high.