Ethereum's Price Analysis: Factors to Support a $4,000 Rally
Thursday, 9 May 2024, 20:00
Ethereum Investors Remain Optimistic
Ethereum's price is below $3,000, but investors' confidence and reduced selling activities signify potential recovery.
Ethereum Active Deposits
- Active deposits decline, indicating decreased selling pressure.
Ethereum Active Addresses by Profitability
- 15% increase in investors in loss signals reduced selling and HODLing behavior.
ETH Price Prediction: Escaping the Wedge
Breaking out of the descending wedge pattern can lead to a 28% rally, with a target of $4,000 if investor support continues.
Ethereum Price Analysis
- Rally to $4,000 potential, with $3,500 as crucial support level.
- Break below $2,800 may extend losses to $2,600, invalidating bullish outlook.
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.