Is Ethereum Quietly Building Momentum for a Rally? Analysts Weigh In
Ethereum’s recent price performance shows Deviate from negative trends It can be seen in the wider cryptocurrency market.
Despite downward pressure on assets such as Bitcoin, Ethereum took a slight positive move yesterday. Promote its market value Return $2,700. In this case of price transfer, questions have been raised about whether assets may quietly build momentum. Sudden gathering.
The quiet behind the scenes
Santiment is a highly acclaimed market intelligence platform Notice At the beginning of this week, the Ethereum has surpassed many altcoins.
This performance reported by Santiment may be attributed to the ongoing trend of ETH moving from AC to cold wallets at an accelerated rate.
In fact, according to Santiment, only 6.38% of available supply remained on the exchange, the lowest number since the inception of Ethereum. Santiment also shows that new interest in the ETH community appears to be another factor in this momentum.
Ethereum shows signs of a mild rebound, currently returning a market value of $2,745 and exceeding the start of most altcoins. From a long-term perspective, ETH continues to leave AC and cold wallets at a shocking rate, with only 6.38% of the… pic.twitter.com/4mtjgpoldt
– santiment(@santimentFeed) February 17, 2025
Ethereum has performed poorly compared to other large assets throughout 2024, and Ethereum is now attracting attention as market participants begin to rebound as broader market conditions improve.
Santiment’s analysis points out that these movements are early indicators that Ethereum may be targeted Continuous growth In the next few months.
Potential upside potential for Ethereum and altcoins
Looking ahead, various market analysts have become optimistic about Ethereum’s performance. For example, the Javon tag is ETH that emerges from a lengthy consolidation phase.
According to Max, the assets can possible Recovered more than 72% from the current level, returning to the highest area in history. Such a move may also stimulate a huge bullish momentum for other altcoins, further enhancing the role of Ethereum Altcoin market leader.
Come out from what might be just a huge bottom/merge $eth Probably set up here with over 72.1% recovery back to its ATH area!
Ethereum may still have a significant upside, which can also help Alts in a major bull market. https://t.co/ykb13rwh99 pic.twitter.com/6fltjolhq0
– Hawan
Tags (@javontm1) February 17, 2025
Another point comes from crypto analyst Ali, who Sure The critical support level is $2,425. This level is noteworthy as it represents the accumulation zone of 10.33 million wallets, with a total of 62.43 million ETHs.
Feature images created with DALL-E, TradingView’s chart
