Ethereum is undergoing a remarkable correction after an explosive event that has seen its increase in prices over 85% from the end of June. After reaching a local maximum near $ 3,940, Eth pulled about 13%back, arousing a debate among analysts on the fact that it is a healthy consolidation or a change in the moment of the market. While some consider the retracement as a natural pause after a rapid tendency to rise, others warn that the sale of pressure and macroeconomic uncertainty could trigger deeper moves.
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However, the data on a cryptoquate chain paint a different image below the surface. Despite the recent drop in prices, a large amount of Ethereum has been constantly withdrawn by exchanges in recent weeks. This trend suggests an aggressive accumulation by investors who move their participations to refrigeration cells, reducing the supply of liquids on trading platforms.
Such deceased are often interpreted as a bullish signal, indicating that the owners are positioning for long -term earnings rather than preparing to sell. While Ethereum continues to drive in areas such as Defi, Stablecoins and tokens of the real world (RWA), this structural question could provide a solid base for price stability and future rallies.
The tendency of Ethereum’s bullish accumulation continues
Analyst Ali Martinez revealed that over 1 million Ethereum (ETH) have been withdrawn from exchanges in the last two weeks, reporting a strong storage tendency between investors. This enormous outflow reduces the liquid offer of ETH available for trading, which historically is related to a long -term upward price action. Although Ethereum had to face a 13% correction compared to the recent $ 3,940, the constant withdrawal of coins suggests that investors are positioning for the subsequent stage.
This accumulation tendency reflects the behavior of investors seen in Bitcoin in the last year. BTC has experienced a similar model of exchange deceased during 2024, which laid the foundations for its enormous bull cycle. Analysts now believe that Ethereum can follow an comparable trajectory, since the fundamentals in support of the Hts remain robust, including its domain in Defi, Stablecoins and tokens of the real world (RWA).
While the feeling of the market remains widely bullish, some risks persist. Recent US work data released on Friday have aroused short -term panic, injecting volatility through crypt and traditional markets. However, many analysts consider the current correction of Ethereum as a healthy retracement and an opportunity to accumulate ETH with a discount before the market resumes its tendency to rise.
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Eth test key support after a strong correction
Ethereum (ETH) is currently mistaken about $ 3,391 after a strong correction by its recent maximum of $ 3,940. The 12 -hour graph reveals that Eth has exceeded its short -term support and is now testing the $ 3,462 SMA of 50 days, which could act as a short -term support level. If the bulls are unable to defend this area, the next critical support is at around $ 2,852, a key level that previously acted as strong resistance in late June.
The volume peaks during the breakdown suggest greater sales pressure, which aligns the recent activities of use by short -term owners. However, despite this decline, the structure of Ethereum’s prices remains in an overall trend, with higher and minimal higher upstairs intact on the broadest period.
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The correction seems to be a test of the previous Breakout levels, since ETH had increased by over 85% since the end of June. The maintenance of the $ 3,350- $ 3,450 range is essential for bulls to resume control and try another move to the resistance area of $ 3,860. Failure to detention could trigger a deeper correction towards the SMA of 100 days to $ 2,972.
First floor image from Dall-E, TradingView chart