In the past few days, Ethereum had difficulties below the price level of $ 2,600 after the general cryptography market has taken up a downstream success, stopping its recent upward trend. While the price of ETH has been faced with notable lower movements, it is always possible that Altcoin can rally in the coming weeks as a key bull model emerges.
A possible rebound emerging for Ethereum
The upward performance of Ethereum has been weakened due to a lower change in the cryptography market, causing the retirement of many major digital assets. Despite this price action, Crypto Bullet, a technical and investor expert, has describe A configuration that refers to a possible rebound towards higher levels in the short term.
Following his analyzes of the one month graphic, Crypto Bullet stressed that ETH closed May on a bullish note. In addition to the monthly fence, Altcoin has formed a good training of morning candlesticks, suggesting an upward momentum.
A training in the morning star candlestick is a technical model that suggests a potential passage from a downward trend to a upward trend, making it an inversion scheme. When the market is in a downward disastrous trend, the morning candlestick model is considered to be A sign of hope for a positive race.
The emergence of this key graph configuration suggests that Altcoin could prepare for another recovery, despite the mixed feeling in The wider cryptography market. With technical indicators alluding to an evolution towards the upward trajectory, the planned rally could rekindle a bull market for Ethereum.
According to Crypto analyst, ETH is currently faced with difficult resistance because prices are struggling to regain upwards. However, Altcoin recently exceeded the price level of $ 2,500, which Crypto Bullet considers a key resistance range.
Before the ruptureThe expert predicted that a notable rally could follow, pushing ETH at the $ 3,300 mark in the coming weeks. Since Ethereum has slightly exceeded $ 2,500 when writing this $ 3,300 trip And beyond could have started.
ETH’s main investors come back to the market
Despite the lowering performances, the feeling of investors towards the ETH has remained solid, in particular in Binance, the greatest exchange of cryptography in the world. Darkfost chain and author expert reported that Ethereum whales are back on the exchange of crypto.
Darkfost identified the quarter after examining the average size of the Eth on Binance, a metric which provides a real-time image of the feeling and the momentum of Ethereum on the platform. This is measured by combining large market data on the Spot and term activity, cumulative volumes and a comparison of mobile averages.
ETH whale orders on Binance have increased since May 19, representing a very encouraging signal and conviction among major investors. The last time this indicator was informed in this way, it was in December 2023, just before the sharp increase in ETH from $ 2,200 to $ 4,000.
While the indicator has lit, Darkfost stressed that whales do not always try to catch the exact background; On the contrary, they often position themselves early when a macro trend begins to show indications of strength.
Getty Images star image, tradingView.com graphic
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