Ethereum
Ethereum Price Prediction: $34 Billion Bullish Signal Appears After $4,000 Rally
When trading volume declines faster than the price decline, this could be an indicator that existing Ethereum investors are reducing their trades at current prices, instead waiting for another phase of rapid rebound above $4,000 in the week to come.
Additionally, key fundamental bullish catalysts, such as positive sentiment surrounding the upcoming Dencun upgrade and rising ETH ETF deposits, also reinforce the optimistic outlook for an imminent Ethereum price rebound.
ETH Price Prediction: Bulls will fiercely defend $3,850
The reduced selling pressure seen among Ethereum investors after breaching the $4,000 barrier puts ETH in a prime position to avoid a major decline below $3,750.
The 7-day exponential moving average (EMA) also confirms this outlook. This shows that traders who acquired ETH over the past week paid an average price of $3,740.
As they still hold around 20% in profits, the majority of them could be hoping for more gains as the broader crypto markets remain mostly bullish.
A successful consolidation above this key $3,750 area could see Ethereum price rise another 15% above the next target of $4,500.