ethereum has had a lower bitcoin performance in most metrics this year, remaining in a technical bears market after decreasing 22% of its maximum 2024.
ethereum (eth) has fallen to $ 3,200, around its lowest level since December 2024. This decrease is attributed to the continuous sale of the ethereum Foundation of its large holdings of eth and the network that loses the market share to Competitive chains such as Tron (TRX) and Solana ((Sun).
Even so, several factors suggest that ethereum can be ready for a bullish break, potentially reaching $ 5,000 in the coming weeks.
First, ethereum's price works historically in February. Since 2019, ethereum has published positive returns every February. Its average performance in February since 2017 has been 17%. While historical trends do not guarantee future results, there is a growing optimism that ethereum could see profits this February.
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Secondly, the caramel data shows that ethereum's balances in centralized exchanges have decreased in recent days. The total volume fell to 16.04 million, below the maximum of this month of 16.09 million. A decrease in exchange balances suggests that the headlines are moving their eth to AutoCustody wallets, a bullish signal that indicates a reduced sales pressure.
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More data show that ethereum whales have continued to accumulate the currency. 13 The whales took the accident on Monday as a signal to accumulate, a sign that they hope it will continue to increase. An outstanding buyer from ethereum is Finance world freedom by Donald Trump, who now holes eth is worth almost $ 200 million.
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ethereum Price Analysis
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The weekly graph shows that ethereum has formed a reverse pattern of head and shoulders, with the neckline at $ 4,085. This pattern is a widely recognized bullish investment signal. A rupture confirmed above the neckline could indicate more profits.
ethereum has also moved to a quarter of the Elliot wave pattern. This phase is generally followed by the fifth, which is often a bullish signal.
The currency is also backed by mobile averages of 50 weeks and 100 weeks. If ethereum breaks above the H&S reverse neckline at $ 4,085, it could recover more, reaching the psychological level of $ 5,000.
