Bearish Targets Get Activated for Ethereum; What’s Next for the ETH Price Rally as Bulls Remain Vigilant!
With the launch of Etheralize, Ethereum will become one of the top blockchains on Wall Street. This is a startup that describes itself as the institutional marketing and product arm of the Ethereum ecosystem. The new investment from Vitalik and the Ethereum Foundation is expected to be at the forefront of global finance and achieve similar success to the launch of the Bitcoin Spot ETF. This may seriously affect Ethereum price A rebound is expected in the coming days, with the spot Ethereum ETF also recording significant gains.
Interestingly, the ETH spot ETF saw inflows of over $70 million, rising for 6 consecutive days. This indicates an increase in trader interest in the coin as institutions appear to be bullish on ETH price growth. Meanwhile, current market dynamics suggest that the coin may enter a downtrend and possibly enter the demand zone around $3,000.
Now the question arises: Will ETH price rebound above $4,200 and trigger a massive alt season?
ETH’s monthly price action shows that the coin faces both bullish and bearish trends. Nonetheless, the daily price action suggests that the price is expected to experience a fresh bullish move. However, volume remains stagnant, suggesting a decline in trading activity and volume. Therefore, the upside may not be supported by sustained growth and thus the trend may remain within the composite range below $3,400. Meanwhile, monthly price action suggests new ATHs will exceed 5 figures.
The monthly RSI has never dipped below 40 since its inception, which could become a solid base as levels plummet. However, current market dynamics suggest that bears are not strong enough to limit gains below $3,000; therefore, bulls need to increase their efforts, which may help the price break above the key resistance at $3,500. With monthly volume remaining within bearish territory, uncertainty remains over the potential for a strong rebound.
Therefore, Ethereum price will continue to rise as long as bulls lift the price above $4,000 in the first quarter of 2025.
