Ethereum (ETH) is showing signs of bullish potential, with recent price movements. The daily chart of ETH hinted that a breakout is on the horizon as a clear Inverse Head and Shoulders pattern has developed. The Inverse Head and Shoulder pattern of Ethereum signaled a possible trend reversal and an upward trajectory in the cryptocurrency for the coming months.
The current trading price range of cryptocurrency is $2,850 to $2920 which is labeled as the ultimate buy zone by the analysts. This significant drop in the price of ETH has triggered buying interest or mounted buying pressure by strengthening the importance of the price level for traders because it traded in the range of $2850 to $4000 in the past 10 months.
Key Takeaways
- The price chart of Ethereum (ETH) formed an Inverse Head and Shoulder pattern as the price dropped into the range of $2850 to $2920.
- Buying pressure on the traders has mounted with this significant price drop as ETH traded in the range of $2850 to $4000 in the past 10 months.
- The cryptocurrency bounced back and reached near the price of $3200, maintaining a support level of $3175 to $3080.
- A wallet associated with Longling Capital recently withdrew 10,000 ETH, hinting whales are preparing for a market shift.
Ethereum Price Analysis
Market analysts are confident that ETH is poised for a potential breakout because it has maintained an upward momentum despite dropping to $2930 from which it swiftly bounced back to $3200, underlining the increasing support in the range of $2850 to $2920. It is said that this support is playing a crucial role in shaping Ethereum’s price trajectory in the short term. The recent price chart of Ethereum is akin to Bitcoin’s chart, hinting that Ethereum may also follow the same path.
Intotheblock.com analyzed Ethereum’s chart and reported that this token’s primary resistance is $3,270 and $3,365, and the strong support level is $3175 to $3080. If ETH breaks out the resistance level of $3,270 and $3,365, it will trigger further bullish momentum and probably test higher price targets. However, ETH must maintain the support level in the range of $3,175 and $3,080 to continue the upward trend but if it fails to maintain this support level it could also face a substantial pullback.
What Investors Can Expect from ETH in 2025
Ali on X posted the chart of Ethereum showing that ETH’s price action remains relatively strong, and network activity has slowed. A decline of 9.32 percent in the creation of new Ethereum addresses over the past week has raised concerns among some analysts who are perplexed if it is a temporary dip in market interest. However, it is too early to determine whether this decline is a longer-term trend. These markets often play a vital role in influencing the market sentiment.
Whales have been busy accumulating cryptocurrency despite the slow network activity as shown in Ali’s X post. A wallet associated with Longling Capital withdrew 10,000 ETH which is equivalent to $30.76 million, from Binance lately, which big investors usually do to set themselves up for a market shift. After this transaction, Longling Capital’s wallet borrowed 9 million USDT from Aave and deposited it into Binance, hinting that whales are gearing up for massive market moves.
As shown in Ali’s X port, three major holders of ETH now hold 43.14 percent of the total supply of Ethereum. This substantial portion of the total supply held by three major holders raises concerns if they want to change their position, then this may change the market dynamics. Thus, the traders are keenly looking at their moves.
In Case You Didn’t Know
- Coinglass reported that $182.76 million was liquidated recently because of the drops in ETH’s price.
- The entire cryptocurrency market liquidated $655.80 million in the last 24 hours.
