Ethereum's rise remains unique and has the potential to go beyond $ 2,000 in the short term. Ethereum whales are still on a buying spree, showing that investor sentiment is still positive.
Ethereum is at the beginning of the cryptocurrency price movement to rise to an all-time high. The lowest resistance path for the biggest altcoin has risen since it rose above $ 1,400.
The 4-hour chart shows that price discovery is not over and Ethereum has just begun its unique rally. For example, the Moving Average Convergence seems to have strengthened the bulls' dominant influence on the price.
At the same time, Ethereum was able to sustain its uptrend every time it traded above moving averages such as the 200 Simple Moving Average, 100 SMA and 50 SMA on the 4-hour chart. The 50 SMA seems to be widening the gap above the other two moving averages, adding confidence to the bullish outlook.
Ethereum whales are on a buying spree, according to Santiment's owner distribution. The need to hold on came after Ethereum showed signs of growth and perhaps left Bitcoin. Curiously, Peter Brandt said he is ready to convert half of his BTC amount into Ethereum.
Addresses ranging from 10,000 to 100,000 ETH have increased from 1,015 recorded 30 days ago to 1,515 at the time of writing. This is a significant increase in Ethereum price that can be predicted to explain the growth.
Ethereum's rally is likely to change; It is expected to continue in the near term and perhaps reach new record highs of over $ 2,000
Note: This is not investment advice.
