Ethereum's recent performance has attracted attention, let's take a deep dive into its monthly chart and discuss the development trajectory of this encryption giant.

Looking back at the history of Ethereum, we can see several key growth periods:

From 2016 to the end of 2017, the price of Ethereum skyrocketed from $5.86 to $1430, achieving an astonishing 250 times growth.

From March 2020 to November 2021, the price increased from $92 to $4868, a growth of 52 times.

In April this year, the price rose from $1380 to a peak of $4958, an increase of 3.5 times.

Compared to the previous two bull markets, the current market shows potential for continued growth in terms of price increase, duration, and trading volume.

In terms of technical analysis, the MACD indicator showed a monthly golden cross in November 2023, followed by a significant price increase. In July of this year, the MACD once again formed a golden cross above the zero line, which is a strong bullish signal.

In addition, the classic "Morning Star" pattern was formed in March, April, and May this year, with the long-legged doji in the middle further enhancing the possibility of a reversal. It has been proven that a wave of upward movement did occur after this pattern.

The latest monthly closing shows a large bullish candle with increased volume, breaking through the historical high and standing above the $5000 mark. Although there are upper and lower shadows, indicating some pressure and support, in a bull market, pressure is often broken through.

The current price has broken through historical highs, indicating that there is no longer the pressure of trapped positions. The future market is likely to continue to develop positively. From the perspective of the monthly trend, maintaining a long-term holding strategy may be a wise choice.

In the investment world, small gains may come from diligence, medium gains may require luck, but substantial gains often stem from grasping the right market trends. When the trend arrives, it's crucial to ensure that you have boarded the train of that trend.