- Ethereum shows signs of life after the recent slide, but don’t look at the victory round yet.
- Momentum flickers hints that the bulls may just pick up their boots.
There is no doubt – Ethereum [ETH] shows signs of life after the dip below $ 1,400. But let’s not yet confuse this “reliefally” for a confirmed trend remark.
According to Ambcrypto, Ethereum is back from the edge thanks to some calm whale recording.
Nevertheless, the lack of a strong bid-side push push capitulation risk does not mean the chat completely. In short: ETH is not dead, but it is also not ready to sprint.
That said, early recovery signs are on the rise. The Bulls may not be counting yet, but they are definitely warming up.
Bulls can be on a run
View the monthly and weekly price -snapshots and suddenly this theory clicks. While Ethereum is in red for the month, Bitcoin [BTC] A solid movement of 13% bent.
But zoom in and the story flips. On the weekly graph, Ethereum performs better than double the profits compared to BTC.
This suggests capital rotation back in ETH, especially with BTC that is approaching an important overhead supply zone at $ 96k – where resistance can dive further.
Source: Coinmarketcap
In addition, the RSI on the ETH/BTC Daily Chart in April is trending after a long period in sold -out territory, which indicates a potential momentum shift.
These technicals support the Amuscrypto statement.
Add some heavy whale accumulation and Ethereum that slays through the resistance of $ 1,900 looks more likely every day.
Ethereum’s soft reboot
The bullish business for Ethereum has just received a big boost. Glassnode data showed a sharp increase in the first buyers, which means that new portfolios grab ETH for the first time since February.
Plus, momentum buyers who short-term traders who jump into their game this week during rallies. When these two groups work together, this is often the prelude to a structural reversal.
Source: Glassnode
But let’s not lead ourselves – there is still caution in the air. As ambcrypto, the inability of Ethereum means to bounce aggressively back capitulation risk Still lingers.
Until new buyers intervene at that critical level of $ 1,900, breaking that resistance is not an easy performance.
So, while data on the chain and capital rotation indicate a potential aid to $ 1,900, the pressure from the sales side will probably retain a tight grip at this level.
Stay glued to those volume statistics around $ 1,900 – it could be the turning point for the next large move from Ethereum.
Credit : ambcrypto.com
