After experiencing 4 red months in a row, the small rise in the Ethereum (ETH) price increases the hope for a green quarter ahead. In the times that the markets continue to show some uncertainty for the new rates of Trump, the second biggest token power shows. Although the lower goals remain active at $ 1500, the possibilities of a hose trap also seem to be fairly clear. That is why, comparable to 2018 and 2022, the ETH price is expected to print huge bullish candles after successive bearish candles.
Ethereum whales wake up
In recent days, the ETH price has confronted with mass sales pressure that the price has kept between $ 2000 and $ 2100. A popular analyst, Alireported a huge sale of more than 760,000 ETH in the past two weeks. On the other hand, an Ethereum OG, or the early investor who acquired 5001 Ethereum in 2017 at a basic price of $ 277, sold his interests.
According to the data from a reporting platform for chains, LookonchainThe OG had begun to sell its interests a month ago, making a total profit of more than $ 8.6 million with an initial investment of around $ 1.36 million. Interestingly, this whale does not sold during the ETH peak above $ 4800, which could have had more than $ 23 million profit. This indicates that the whale has either found a better offer or lost confidence in the next price promotion.
Will an increase of $ 2500 in ETH price kick off an altical season?
The Ethereum price is closely monitored because the token pressed massive bearish candles and the possibility of a rebound returned to $ 4000. Currently, Token is in such a position in which defending $ 2000 has become a tough fight. However, Token has tried to breathe new life into a strong revival of regular intervals, but the weakness between the bulls prevented the token levels above the profits. In the meantime, the price has now activated a rebound of a crucial level of support; That is why the possibility of a rebound comes to the fore.
The weekly ETH card shows an attempt from the bulls to stay within a bullish pattern, above the important rising trend line. Since the price in Q4 2020 is higher than $ 800, the token has traded a rising trend line. The price is currently trying to maintain support and if the rebound is validated, the Bearish clouds can fade for a while. However, above the local resistance at $ 2081 and securing $ 2100, the road can free up for the sign to test the higher resistance.
By the way, securing the levels above the 200-day EMA could validate a bullish continuation, and because the weekly RSI has formed a double bottom, a revival is on hands. That is why the price of Ethereum (ETH) is ready to maintain a healthy revival, but if it does not hold, a decrease up to $ 1500 can be on its own. If this happens, the chance of an altiation season can fade indefinitely.
Credit : coinpedia.org
