Ethereum Surges — $7K ETH on the Horizon

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Ether's bullish Augusts in the past have preceded major rallies into year-end, raising hopes of ETH price reaching $7,000 by January.

ETH eyes record monthly close, unlocking potential for a year-end rally.

History shows August’s average 60% gains into December despite September dips.

Monthly MACD flips bullish, echoing past signals that preceded major uptrends.

Ethereum’s native token, Ether, is on track for its highest monthly close, above the current record high of around $4,955.

Ether gains 60% on average after a green August
Whenever ETH closes August in the green, the following months have historically delivered about 60% on average returns.

In August 2017, 92.9% gains set the stage for another 91% rally into year-end, fueled by the initial coin offerings (ICO) euphoria, according to data resource CoinGlass.

In 2020, ETH added 25.3% in August before surging 69% from September to December, with November alone bringing in 59% profits as DeFi adoption accelerated.

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