The atherium price has stopped this month as cryptocurrency investors remain on the sideline, but some fundamental and technical catalysts can push it more.
Ethereum (Eth), the second largest cryptocurrency, was trading at $ 2,700 on Tuesday, falling 35% from its highest level in November. This price is notable as it was trading on the same date in 2024.
Some catalysts may help push the atherium value more in the coming months. First, data suggests that Spot Etharium ETF has continued income from Wall Street Investors. They have a daily flow in 7 out of 10 days in this month, growing up to $ 3.15 billion since the total flow.
Second, co -operative data suggests that the atherium balance in centralized exchanges has been submerged in the last few days. There are 15.34 million coins below 16.2 million this month. Falling balance is an indication that many eith holders are not selling and instead holding them in self-cosmetics.
Thirdly, there are indications that the atherium network is holding with Solan (Sol) in case of decentralized exchange transactions. The protocol on the atherium handled more than $ 2.28 billion in the last 24 hours as compared to Solana, which has been criticized after pulling several meme coin rugs, the rug., The most recently there was a Libra, which increased in the last weekend and crashed.
Etharium is strong technology in value
Short -term chart suggests that the atherium value may cause a strong recession break after creating a death cross pattern. This pattern is formed when the 50-day and 200-day moving averages cross each other.
However, a close look at the long -term chart indicates a potential ETH price rebound. The weekly chart above shows that the accumulation and distribution indicator continued to grow, indicating that investors have continued to deposit tokens.
It also indicates that it is creating an ascending triangle pattern, made of two parts: a ascending trendline and a horizontal resistance. A rapid breakout occurs when two lines are near their convergence. Eth has also created a megaphone pattern, indicating another speed.
The challenge is that fast breakout may take time as it is on the weekly chart. The signals on a weekly chart may take more than months or more than a year.
A rapid breakout above the upper part of the triangle at $ 4,061 will point to a greater profit, possibly $ 5,000 at an all -time high level of $ 4,945.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
