Ethereum (ETH) Price Surge: Insights into Investor-Led Growth
Ethereum Investors Will Not Sell
At the time of writing, Ethereum's price is hovering above the $3,000 mark, showing signs of further recovery. Investors have chosen to HODL instead of selling, with a notable decline in active deposits on the network, reducing vulnerability to corrections.
Ethereum Active Deposits
Currently, ETH deposits are at a seven-month low, signaling positive sentiment. The shift of supply from short-term to mid-term investors also suggests a positive outlook for the altcoin.
ETH Price Prediction: The Crucial Fibonacci
If ETH breaches the 50% Fibonacci Retracement resistance at $3,376, it could rally towards $3,582 and above $3,500. Failure to break this barrier may lead to a drop below $3,093, invalidating the bullish trend.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.