Ethereum, the second-largest cryptocurrency by market capitalisation, appears poised for a significant rebound after a period of consolidation. Analysts anticipate a bullish surge that could propel ETH price to new all-time highs.
Ethereum (ETH) has managed to stay above the crucial $1800 support despite repeated attempts by Bitcoin to break out of its consolidation zone. While trader attention seems to have dwindled slightly with a sudden drop in volume, signs of an impending bullish momentum are clearly visible.
Since the end of April, the massive inflows into Ethereum-related ETFs indicate growing institutional interest in this cryptocurrency. Additionally, a report suggests that a whale sold 14.38 WBTC (Wrapped Bitcoin) to purchase around 758 BTC, a move that could signal an upcoming upward trend.
Analysis of the monthly ETH chart reveals significant upward pressure, despite some bearish signals. While the Relative Strength Index (RSI) maintains a downward trend, the convergence of DMI indicator levels suggests a reduction in volatility and a bullish outlook.
According to experts, Ethereum appears poised for a significant rebound, with an initial target around $2500. If the price manages to hold between $2700 and $3200, a new all-time high could even be achieved.
Technical signals and whale movements indicate that Ethereum is set for a strong bullish surge in the coming months. After a consolidation phase, the second-largest cryptocurrency by market cap seems ready to unleash its full potential.
While the forecasts are promising, it is crucial to stay vigilant and regularly monitor market developments. Informed investors will closely watch for the upcoming trends to seize the best opportunities.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
