A huge jump for Ethereum (ETH) of 46% over the past month alone, and it doesn't stop here, as the ETH/BTC Relative Strength Index has risen by 30%. For those who don't know.
What does that mean?
This means that Ethereum is not growing in isolation, but is currently outperforming Bitcoin in attracting market momentum.
What is behind this upward trend?
1. Ethereum Exchange-Traded Funds (ETFs)
- The trading funds recorded 12 consecutive days of inflows.
- These funds attracted trillions of dollars from major investors looking for safe and regulated exposure to Ethereum, injecting huge liquidity into the market.
2. Structural improvement in the ETH/BTC index
- The ETH/BTC pair is forming a higher low on the monthly timeframe, which is a strong technical signal of a trend reversal in favor of Ethereum against Bitcoin.
- This indicator is considered a "telescope" for the performance of altcoins: if it exceeds 0.026, it may ignite a major bull wave in the market.
3. Rising institutional demand
- According to on-chain data, there are over 340,000 ETH (worth $900 million) in the queue to enter the staking process — the highest level in a year.
- This massive amount reflects long-term confidence in the network, especially after the U.S. Securities and Exchange Commission (SEC) clarified the regulations, reducing legal ambiguity.
Technical indicators suggest a new upward wave
1. Critical resistance levels:
- Ethereum is trying to break the $2,680–$2,850 range; if successful, it may surge towards $3,500 and then $6,000, based on historical models resembling the rise of 2016–2017.
- Strong support at $2,400 (the 200-day exponential moving average) protects against major pullbacks.
2. Momentum signals:
- The Relative Strength Index (RSI) is at 58 on the daily timeframe, leaving room for upward movement before reaching the "overbought" stage.
- Trading volume increased by 12% with an improvement in the Money Flow Index (MFI), supporting continued momentum.
Do you think Ethereum is on its way to leading a new bull wave in the crypto market? Share your valuable opinions and analyses in the comments.
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