$ETH Analysis: Can $3,550 Be Reached? - AMBCrypto Analytics
ETH, currently trading at $2,410, has fallen 7.95% over the past month and recently dropped from $2,820 to a low of $2,150. Despite this, analysts like CryptoWZRD predict a potential 48% rally to $3,550 if Bitcoin surges, aligning with historical trends where BTC influences ETH's performance.
However, current indicators suggest bearish sentiment. Ethereum’s exchange netflow is positive, signaling increased deposits and potential selling pressure. Additionally, a rising exchange supply ratio and a higher concentration of ETH among retail traders versus whales suggest increased volatility and possible further declines.
If ETH breaks from its current downtrend, it could rise to $2,527. Otherwise, a continued bearish trend might see it drop to $2,224.
