Ethereum's price could increase to $ 5K as fresh catalysts arise

ethereum Price has stagnated this month since cryptocurrency investors remain on the sidelines, but some fundamental and technical catalysts can push it higher.

ethereum (eth), the second largest cryptocurrency, was quoted at $ 2,700 on Tuesday, a 35% drop from its highest level in November. This price is remarkable since it coincides with where it is quoted on the same date in 2024.

Some catalysts can help raise the price of ethereum in the coming months. First, the data show that the ETFs of ethereum Spot have continued to have tickets of Wall Street investors. They have had daily tickets in 7 of 10 days this month, with their total tickets since the beginning increased to $ 3.15 billion.

Second, Caramel data shows that ethereum's balances in centralized exchanges have collapsed in recent days. Now there are 15.34 million coins, below the maximum of this month of 16.2 million. Fall balances are a sign that many eth holders are not selling and, on the other hand, keep them in AutoCustody.

Third, there are signs that ethereum Network is up to date with Solana (Sun) in terms of decentralized exchange transactions. ethereum protocols managed more than $ 2.28 billion in the last 24 hours compared to Solana, which has been criticized after numerous meme carpet shooters. The most recent was Libra, which increased and crashed last weekend.

ethereum's price has strong technicians

Short -term graphics show that ethereum Price can have a strong bearish breakdown after forming a deadly death pattern. This pattern is formed when mobile averages of 50 days and 200 days cross each other.

However, a closer look at the longer term graphics points to a possible re -discussion of the eth price. The previous weekly table shows that the accumulation and distribution indicator has continued to increase, indicating that investors have continued to accumulate the token.

It also shows that it is forming an ascending triangle pattern, which is composed of two parts: an ascending trend line and a horizontal resistance. An upward break occurs when the two lines near its convergence. eth has also formed a megaphone pattern, another bullish sign.

The challenge is that the bullish rupture can take time since it is in the weekly table. The signals in a weekly graphic may take months or more than a year to complete.

An upward break on the upper side of the triangle at $ 4,061 will point to more profits, possibly to the historical maximum of $ 4,945 followed by $ 5,000.