š Ethereum Blasts Off With Biggest Weekly Candle in Years ā Is Altseason About to Begin? š„
#Ethereum just dropped the biggest flex candle of the year ā and crypto Twitter canāt stop talking about it. After months of doom and gloom, ETH exploded more than 45% last week, reclaiming the psychological $2,500 level like a boss š.
š The Weekly Chart Says It All
$ETH just rocketed past the 200-week EMA ($2,255) and SMA ($2,451) ā major long-term trend indicators ā for the first time since its brutal downtrend began. The last time we saw this kind of candle? Letās just say DeFi summer was still a thing. š¹
š Whatās Driving the Hype?
Top analyst Daan broke it down:
āThis candle wasnāt just technical ā it was vengeance. Bears got squeezed hard.ā
Thatās right ā months of bearish positioning were obliterated in a flash rally that flushed out short sellers and invalidated the bearish market structure. With ETH now sitting at ~$2,555, just below the key resistance range ($2,700ā$2,800), the big question is: can it hold? š§
š Volume Confirms Itās Real
This wasnāt some low-volume pop. The surge came with serious participation, suggesting bulls arenāt just bluffing. If ETH manages to flip this resistance zone, analysts say we could see a full-blown altseason revival, potentially the strongest since 2021. ššŖ
ā ļø Caution: Volatility Ahead
Daan warns:
āPlay it level by level. Donāt chase ā observe how ETH behaves at resistance. Next week is key.ā
So while the rocket has launched, thereās still turbulence ahead. A clean break above $2,800 could ignite capital rotation into altcoins, with ETH leading the charge. Fail to break through? We might just be looking at a mega short squeeze relief rally.
š ETH surged 45% last week ā biggest candle in years
ā
Reclaimed 200W EMA & SMA = bullish signal
š„ Bears squeezed, volume confirms strength
šÆ Key resistance ahead at $2,700ā$2,800
š§© Altseason could begin if breakout continues
Grab your popcorn, because next week might be fire. šæš„