🛑 Will Ethereum ($ETH ) Price Rally Continue After 40% Weekly Gains? 📈
Ethereum price continues to show strength as US-China trade talks made progress on Sunday, after gaining 40% last week.
Institutional interest and ETH whale activity are picking up once again, with big money once again flowing into the altcoin.
Last week rally has once again flipped the market narrative from “Ethereum is dead” to now ETH at $10,000.
Historically, Ethereum securing a weekly close above $2,200 has triggered sustained uptrends across this range, according to the analyst. “Weekly closes above $2,200 have historically set off uptrends across the Range,” noted Rekt Capital.
The analyst added that any potential dips would serve to reinforce $2,200 as a robust range-low support, further solidifying Ethereum’s bullish outlook.
Another popular analyst Henry, stated that “Ethereum isn’t dead. Its coiling”. In a message on the X platform.
The analyst added that he expects the Ethereum price to shoot to $12,000 by the year-end. Key factors supporting the rally would include staking for Ethereum ETFs, token burn after Pectra upgrade, and other fundamental aspects.
