Ethereum

bullish

2024

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<p>Ethereum showed patterns of growth, aligning closely with the realized price bands. Ethereum’s price peaked during the 2021 bull run, reaching levels around the upper band of $5.2k.</p> 
<p>This historical peak mirrored, where Ethereum briefly touched this upper band again in the recent period. This indicates a strong potential for growth if market conditions remain favorable.</p> 
<p>The actual price of <a href="https://www.thecoinrepublic.com/2024/12/07/ethereum-price-tops-4000-for-the-first-time-since-march-ath-next/">Ethereum</a> was noted at $3.8k. It resided between the upper band and the realized price of $2.3k, which acted as a psychological midpoint for traders.</p> 
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   <em>Ethereum Realized Price Bands | Source: CryptoQuant</em>
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<p>The divergence between the realized price and the market price suggested that Ethereum was undervalued. Or at least not fully valued at its potential peak.</p> 
<p>As the market dynamics of supply and demand strengthened, Ethereum’s price could have escalated towards or even above the $5k mark.</p> 
<p>This movement would not only align with previous price behaviors but also affirm Ethereum’s ability to sustain high valuation levels amidst varying market sentiments.</p> 
<p>This potential for upward movement was also supported by a stable base above the lower realized price band of $1.1k. This suggested a strong foundational support level for ETH’s market valuation.</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-short-liquidation-levels"><strong>Ethereum Price Short Liquidation Levels</strong></h2> 
<p>Further analysis showed Ethereum saw short liquidation as it surged into key liquidity levels. Initially consolidating around $3949.89, Ethereum price showed resilience despite a volatility.</p> 
<p>ETH broke through the resistance zone near $4037.58 with a sharp increase in trading volume and a corresponding rise in price, suggesting a strong buying interest.</p> 
<p>During this period, the bid and ask ratio skewed. This shows a higher supply in the spot orderbook, which could typically pressure prices downward.</p> 
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<p>However, Ethereum price maintained the rally, efficiently absorbing the sell-side pressure. This coincided with the liquidation of short positions, indicating a high concentration of short trades being squeezed.</p> 
<p>The price action led to a brief retest of the $4037.58 level before advancing further, suggesting a bullish sentiment among traders.</p> 
<p>If this pattern were to continue, ETH could potentially challenge higher resistance levels, possibly aiming for previous highs or new peaks.</p> 
<h2 class="wp-block-heading" id="h-ethereum-s-golden-cross-on-the-daily"><strong>Ethereum’s Golden Cross on the Daily</strong></h2> 
<p>Ethereum’s Golden Cross events where the 50-day moving average (MA50) crosses above the 200-day moving average (MA200), first cross in late 2023, sparking a trend reversal from a bearish to a bullish market.</p> 
<p>Following this event, <a href="https://www.thecoinrepublic.com/2024/12/05/eth-price-skyrocketing-as-addresses-count-surge-4000-incoming/">Ethereum</a> price began to climb steadily, showing the potential predictive power of such technical patterns.</p> 
<p>The subsequent Golden Cross in late 2024 reinforced this bullish sentiment, which could lead to a sustained uptrend in Ethereum’s market price into 2025.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="472" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-1024x472.png" alt="" class="wp-image-879521" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-1024x472.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-300x138.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-768x354.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-150x69.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-696x321.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278-1068x492.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-278.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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<p>During these periods, ETH/USD saw significant increases in trading volume, indicating heightened market interest and possibly new investments flowing into Ethereum.</p> 
<p>The price action continued upward, culminating in Ethereum reaching highs above $6,800, far surpassing previous resistance levels.</p> 
<p>These crosses were pivotal moments for Ethereum, as they were historically associated with prolonged periods of bullish activity.</p> 
<p>If the pattern holds, ETH could be expected to test even higher resistance levels, potentially approaching or exceeding $7,000.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/15/ethereum-realized-price-bands-show-potential-for-short-term-uptrend/">Ethereum Realized Price Bands Show Potential For Short-Term Uptrend</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Ethereum Realized Price Bands Show Potential For Short-Term Uptrend

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