Ether Accumulation Surges: Is a Price Rally to $3,150 on the Horizon?
Ether accumulation wallet balances increased by 33%: Is a rally to $3K next?
Cointelegraph
Image: Cointelegraph
Ether (ETH) has seen a significant price rally, reaching $2,400, which is 38% above its recent low. Accumulation addresses have increased by 33%, indicating strong investor confidence. Analysts suggest that if ETH maintains its position above $2,400, it could target $3,150 in the near future.
- 01Ether's price has surged to $2,400, marking a 38% increase from its low of $1,750.
- 02Accumulation addresses have absorbed 6.5 million ETH, reflecting growing investor confidence.
- 03Daily active addresses surged by 89%, indicating increased user interaction with the Ethereum network.
- 04A cup-and-handle chart pattern suggests a potential price target of $3,150 for ETH.
- 05Investors are advised to conduct independent research due to the inherent risks in trading.
Advertisement
In-Article Ad
Ether (ETH) has rallied to $2,400, a significant increase of 38% from its recent low of $1,750. This surge has been accompanied by a notable rise in accumulation addresses, which have absorbed 6.5 million ETH, bringing the total to 26.16 million ETH, a 33% increase since January 1. Additionally, daily active addresses saw an 89% increase, indicating heightened user engagement with the Ethereum network. Analysts point to a cup-and-handle chart pattern that suggests a price target of $3,150, contingent on ETH maintaining its position above the $2,400 mark. The relative strength index has also risen to 68, suggesting bullish momentum. However, readers are reminded to conduct their own research before making investment decisions, as all trading carries risks.
Advertisement
In-Article Ad
Advertisement
In-Article Ad
Reader Poll
Do you believe Ether will reach $3,150 in the near future?
Connecting to poll...
More about Cointelegraph
Read the original article
Visit the source for the complete story.