Ethereum

bullish

Coin

<p>Ethereum was poised for a breakout with its bullish cup and handle pattern targeting $6,000. Ethereum price prediction points to a pretty picture, but there is a catch. </p> 
<p>Following the formation of the cup, Ethereum is now in the handle phase, preparing for an upward move. However, retail were betting against the price surge; will this slow down the breakout?</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-prediction-bullish-cup-and-handle-pattern-points-to-6k"><strong>Ethereum Price Prediction: Bullish Cup and Handle Pattern Points to $6K</strong></h2> 
<p><a href="https://www.thecoinrepublic.com/2024/12/15/ethereum-network-growth-hits-8-month-high-can-on-chain-activity-spark-eth-rally/">Ethereum’s </a>monthly chart showed a bullish cup and handle pattern, signaling a possible major move.</p> 
<p>The pattern suggested that after the cup formation, ETH was in the handle phase, preparing for a breakout. And if it does break out, then Ethereum could head all the way up to $6,000.</p> 
<p>Ethereum retracted to form the handle, built a solid base, and is now setting up to explode higher.</p> 
<p>If Ethereum moved past the resistance at $3,960, that will help to strengthen the positive sentiment about the cryptocurrency.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/Ashcryptoreal/status/1868610089789309367 
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<p>Also, altcoins were expected to join in with Ethereum after the breakout. If <a href="https://www.thecoinrepublic.com/2024/12/15/ethereum-realized-price-bands-show-potential-for-short-term-uptrend/">ETH</a> does happen to rise, the rest of the market could follow suit in a broader rally due to their correlation with its price action.</p> 
<p>Ethereum price prediction technical setup indicates high potential for the Ethereum and altcoin markets in the coming days.</p> 
<h2 class="wp-block-heading" id="h-ethereum-whales-have-been-increasing-holdings-following-3-330-price-break"><strong>Ethereum Whales Have been Increasing Holdings Following $3,330 Price Break</strong></h2> 
<p>Since price climbed above $3,330, Ethereum whale activity has risen decisively. From early October 2024, there were 440 addresses with over 10,000 ETH, by December 2024, that number grew to 560.</p> 
<p>The surge in whale accumulation told us ETH was attracting more institutional interest as large investors gain more conviction in the future of Ethereum.</p> 
<p>The whale accumulation correlated with ETH’s price movement. More whales buying ETH sent the price soaring, which supported the notion that big players were feeling good about the token.</p> 
<p>This trend towards accumulation showed increased long-term market confidence, which in the majority of cases meant those investors assume that the market will increase and prices will be increasing.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="576" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-1024x576.jpeg" alt="ETH Mega-Whale Address Count | Source: Ali/X" class="wp-image-882137" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-1024x576.jpeg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-300x169.jpeg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-768x432.jpeg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-1536x864.jpeg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-150x84.jpeg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-696x392.jpeg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70-1068x601.jpeg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-70.jpeg 1800w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   ETH Mega-Whale Address Count | Source: Ali/X
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<p>We can expect the increase in whale activity to feature strongly in the Ethereum price trajectory. If continued in this fashion, this trend could push prices even higher.</p> 
<p>The accumulation is still ongoing, and whales seem to be preparing themselves for further movements in the market and future growth.</p> 
<h2 class="wp-block-heading" id="h-ethereum-s-bet-spread-hits-record-high-as-retail-investors-bet-on-decline"><strong>Ethereum’s Bet Spread Hits Record High as Retail Investors Bet on Decline</strong></h2> 
<p>Ethereum remained the leader in terms of capital flow to altcoins, but retail participants were betting against its price movement.</p> 
<p>Data from CryptoQuant’s Net Taker showed that the spread between long and short positions on Ethereum had reached a record high.</p> 
<p>More retail investors are betting on Ethereum’s price decline as Ethereum price prediction glimmers. Short positions are surpassing long positions. The sharp increase in short positions indicated heightened bearish sentiment.</p> 
<p>The spread between long and short positions has widened significantly, suggesting that market sentiment is largely negative.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/binhdangg1/status/1868536215034532033 
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<p>Many retail investors believed ETH could not return to its previous ATH, which reflected in the growing number of short bets.</p> 
<p>Despite Ethereum’s dominance in market flows, this shift toward more short positions showed uncertainty in the market.</p> 
<p>Investors were increasingly unsure whether ETH can recover its former highs, as indicated by the growing number of short bets.</p> 
<p>The question remained whether these positions could be validated or whether Ethereum will prove resilient in the face of this bearish sentiment.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/17/ethereum-price-prediction-cup-handle-signals-6k-breakout-but/">Ethereum Price Prediction: Cup and Handle Signals $6K Breakout, But..</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Ethereum Price Prediction: Cup and Handle Signals $6K Breakout, But..

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