š® ETH: 50% Surge on the Horizon? Watch the Rounded Bottom! š
Ethereum (ETH) is holding strong above $2,500 despite recent distribution, thanks to significant whale and institutional buying! But the big question is: Will the potential rounded bottom pattern deliver a massive rally?
š” Key Insights:
* Strong Support: Investors bought 70.78M ETH between $2,348-$2,548, creating a robust support zone.
* Whale Activity: Nasdaq-listed BTCS scooped up 3,450 ETH, and Abraxas Capital added a massive 46,295 ETH! Big players are accumulating.
* Profit Taking & Losses: Recent volatility saw investors book ~$300M in profits and ~$60M in losses, indicating active trading.
* Futures Market: Red bubbles on futures charts show increased volume, but recent liquidations ($71.83M in 24 hrs) suggest some caution.
š¤ Jeffrey Wilcke's Transfer: ETH co-founder Jeffrey Wilcke's transfer of 105,737 ETH to Kraken caused a stir, but it appears to be for redistribution rather than a sell-off. (Source: CryptoSlate, The Defiant)
Chart Watch: ETH's weekly chart is choppy, battling resistance at $2,530. If new demand emerges and ETH flips the 50-, 100-, and 200-week SMAs into support, it could break above $2,850, confirming the rounded bottom pattern. This could ignite a 40%+ rally!
What are your thoughts? Can ETH confirm this bullish pattern and surge? Share below! š