The post Bearish Targets Get Activated for Ethereum; What’s Next for the ETH Price Rally as Bulls Remain Vigilant! appeared first on Coinpedia Fintech News
Ethereum is heading to become one of the top blockchains for Wall Street with the new launch of Etheralize. It is a startup that calls itself an institutional marketing and product arm of the Ethereum ecosystem. Vitalik & Ethereum Foundation’s new investment is expected to be at the forefront of global finance and achieve a similar success as Bitcoin witnessed after the launch of the spot ETF. This could significantly impact the ETH price rally in the coming days as the spot Ethereum ETF also records significant gains.
In an interesting update, the ETH spot ETFs witnessed over $70 million inflow, marking 6 consecutive days of gains. This indicates a rise in the trader’s interest over the token, as the institutions seem to be bullish over the ETH price rally. Meanwhile, the current market dynamics suggest that the token is likely to enter a downtrend and probably enter the demand zone around $3000.
Now the question arises: whether the ETH price will rebound above $4200 and trigger a massive altseason?
The monthly price action of ETH suggests the token is facing an equal bullish and bearish action. Despite this, the daily price action suggests the price is expected to undergo a fresh bullish action. However, the volume remains grounded, hinting towards a drop in the trading activity and volume. Hence, the rise may not be supported by sustained growth, due to which the trend may remain within a consolidated range below $3400. Meanwhile, the monthly price action hints towards a new ATH above a 5-digit figure.
The monthly RSI has never dropped below 40 since the beginning and this could act as a strong base as the levels are plunging. However, the current market dynamics suggest the bears are not strong enough to restrict the rally below $3000; hence, the bulls are required to intensify their strength, which may help the price to elevate the levels beyond the pivotal resistance at $3500. As the monthly volume remains within a bearish influence, the possibility of a strong rebound remains uncertain.
Therefore, the Ethereum price remains poised for a consistent upswing, provided the bulls elevate the levels beyond $4000 in Q1 2025.
