Ethereum Flashes Bullish Divergence – Is A Rally On The Horizon?
The price of Ethereum (ETH) has increased by 1.86 % in the past day. However, according to Trading data from coinmarketcapSince December 2024, despite the significant growth in the past month, the popular Altcoin is still growing negatively. Interestingly, potential market activities point to potential price breakthroughs.
Ethereum saw a strong accumulation activity of decline in price
Since then Touch the price of $ 4,000, Ethereum has slipped as low as $ 3,000. exist Bitcoin worthy of attention In January, Ethereum continued to hit a lower low during this period.
However, expert names with user name Crypto Sunmoon Already noticed In the current price decline, the increase in market purchases shows that the difference between the ETH market is different. In the context, when the price of the asset is reduced, there will be differences in bullish, and the momentum index will make the low point higher, which implies that the potential reversal or moves upward.
As for Ethereum, the increase in purchase volume shows that the demand for buyers is very large, especially at the current price level. This development further shows that as investors expect purchase pressures to surpass sales activities in the next few days, they are full of confidence in the profitability of assets.
Based on historical data, cryptocurrency sun prediction, Ethereum may experience price prosperity. For example, in May 2024, similarly bullish differences occurred last time. In that month, according to the current market price, ETH increased by more than 21 %, which shows that if the expected price breakthrough occurs, Altcoin may return $ 4,000.
ETH long -term holders expressed strong market confidence
In other news, Intotheblock Report The long -term holders of Ethereum currently have the average holding time of 2.4 years, which indicates that it has great confidence in the future value potential of Ethereum.
However, Ethereum faces other problems, including the lack of short -term participants, which prevented ETH from experiencing a large number of speculative transactions, which can promote price appreciation. In addition, the rapid growth of the second -level solution (such as optimism) and the 1st block chain (eg, Solana) also follow the potential market demand and the attention of Ethereum.
As mentioned earlier, as of press time, ETH’s transaction price was $ 3,306, as mentioned earlier, the earnings of 1.86 % in the past day. At the same time, the daily transaction volume of assets increased by 55.69 % to $ 30.3 billion. Within a large range of time, Ethereum’s weekly charts also increased by 0.22 %, but the monthly chart fell 2.27 %. For many short -term investors, the desire was longed for.
