Ethereum Price to Skyrocket? $402 Million Worth ETH Outflow | Airdrop Alert Pro

Ethereum (ETH) is the world’s second largest cryptocurrency, which is based on market caps and is expected to hold large-scale upward rallies. It has recently formed a bullish price action pattern over the monthly time frame. A crypto expert posted on X (formerly Twitter), sharing an ETH chart and highlighted how it reflects Bitcoin (BTC) charts before its explosive 2024 soar.

Ethereum (ETH) big breakthrough

Experts noted that in an article on X, “ETH’s current market structure looks very similar to the setup before Bitcoin’s major breakthrough in the last cycle.” Additionally, he said that if the pattern holds, there could be big moves, .

In addition to this forecast, cryptocurrency investors and long-term holders have been accumulating tokens as the market experiences a sharp decline.

$402 million worth of ETH outflow

Coinglass spot inflows/outflows shows that communication has seen $402 million worth of outflows eth In the past 48 hours. Such a large outflow of current market uncertainty suggests potential accumulation, creating buying pressure and exacerbating further upside rally.

It’s time to increase ETH, Trump

However, since his inauguration, pro-Cretto President Donald Trump has also been found to accumulate tokens. Recently, U.S. executive vice president Eric Trump published an article on X, which attracted widespread attention. “In my opinion, this is a good time to increase ETH,” Eric said in his post.

All of these factors suggest Ethereum’s bullish outlook and its potential for a massive upward rally – it missed when BTC hits its all-time high in 2024.

Current price motivation

At press time, Ether was trading close to $2,750, down more than 1.35% over the past 24 hours. However, during the same period, its trading volume fell by 18.50%, indicating a decrease in traders and investors’ participation rates, which may be due to higher market volatility.