As Ethereum happily surpasses $2,600 this week, a shiver runs through the crypto community. Behind this explosive 37% rise lies a rare technical signal: the maintenance of the realized level at $1,900. An indicator that, combined with the Petra upgrade, sketches an unprecedented bullish scenario. But why does this symbolic limit electrify specialists? A dive into the depths of a boiling market.
According to Crazzyblockk, an analyst at CryptoQuant, accumulation addresses – those hardened holders who store their crypto ETH on Binance – play a key role. Their realized price at $1,900 now serves as a psychological floor. Even better: recent ETH outflows from Binance reveal a controlled profit-taking, a sign that the market digests sales without succumbing to panic.
However, the true turning point is elsewhere. The Petra upgrade, by accelerating the burn of ETH, introduces artificial scarcity into the equation. Imagine a faucet that closes while demand rises. The result? The technical and economic fundamentals of Ethereum align for the first time since 2021. A tango between reduced supply and renewed confidence.
A target of $5,791: utopia or prophecy?
In this context, some analysts bring the spotlight. One of them dares a shocking forecast: $5,791. A number that causes astonishment but is backed by relentless logic. Historically, each bullish cycle of Ethereum has multiplied its previous peak by 5 to 7. Apply this index to the peak of 2021 ($4,878), and the math adds up.
There remains the thorny question of catalysts. Institutional adoption, via potential spot ETFs, could act as triggers. Not to forget the network effect: the more Ethereum burns tokens, the greater its scarcity to attract investors… who accelerate the burn. A virtuous cycle worthy of an economic science fiction scenario.
Between robust technical signals and bold prophecies, Ethereum navigates in statistically favorable waters. Maintaining above the realized price is not just a number: it is the symptom of a mature market, where patience and strategy replace speculative fever. It remains to be seen whether the fairy tale will withstand macroeconomic shocks. One certainty? Analysts have not yet finished deciphering every fluctuation of the chart despite experts' confidence regarding the altcoin season.
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