EthereumPrice performance in the current level cycle could be lagging behind compared to other notable cryptographic assets such as BitcoinSolana and XRP, which have reached new historical heights. However, optimism about its prices perspectives persists, as evidenced by a persistent accumulation of digital assets.
Confidence in Ethereum increases among investors
Although the price of Ethereum has trouble starting a major rally, an encouraging feeling has been spotted among investors. Recently, EPF investors have accelerated their accumulation at a significant rate in the past two weeks.
Kyle Doops, technical expert and host of the Crypto Banter Show, shared development after examining the key metric of the new Ethereum accumulation. Data From Kyle Doops reveals an increase in the activity of portfolios, small and large investors increasing their assets in ETH.
The expert said that this trend reflects the unshakable confidence of investors despite recent market fluctuations. In addition, growing interest suggests strong confidence in the potential of long -term ETH, which attracts many institutional and individual actors.
The expansion of the Ethereum network and the domination of the Decentralized finance (DEFI) And the non-fungible tokens areas (NFT) may have played a central role in persistent accumulation. Meanwhile, if the accumulation phase extends, it could serve as a precursor to the next major Altcoin prices movement.
However, the drop in market performance threatens its short -term upward trend. Even faced with the uncertainty of the market, Kyle Doops says that the future of Ethereum seems more and more promising, demonstrating its optimism as to the capacities of the assets.
This strong investor activity is also noted by measuring the estimated lever ratio Ethereum, which has been up for some time. An increase in this key indicator indicates an increased risk as traders take more positions with a high lever effect.
The increase in high lever positions seems to have increased as the ETH consolidates between 3,200 and $ 3,500. Given the prolonged stagnation of the price range, Kyle Doops believes that a bullish break is likely at this stage.
However, he urged investors to be cautious, because a high lever effect can cause liquidations and volatility, as we have seen in the past, where evolution has led to price volatility for the market . altcoin.
A strong rally for ETH on the horizon?
ETH continues to deal with important Resistance to $ 3,500raising uncertainty about the next price management. However, the market expert and Trader Milkybull expressed his confidence in the prospects of the ETH, predicting an evolution towards unprecedented levels.
By examining the graph over 1 month of the ETH, the analyst complaints that the infamous increase in the ETH which will push him to the CAP of $ 12,000 grows. Its daring forecasts are supported by a Rising Wedge model, which generally supervises Notable price increases.
At the time of writing this article, the ETH was negotiated at $ 3,381, which represents an increase of almost 5 % in the last 24 hours. Investors bet significantly on the resumption of upward dynamics, the volume of transactions that increased by more than 60 % during the last day.
Image in Unsplash star, tradingView.com graphic
