Ethereum (ETH) Price Prediction: What the Charts and Whales Are Telling Us

Ethereum has attracted investors following the breach of two major support levels, with fresh debate emerging regarding Ethereum price prediction.

The price of Ethereum has attracted investors following the breach of two major support levels, leading to fresh debate on Ethereum price prediction. While the immediate term direction remains in question, the majority of whales are feeling more positive that a massive rally is imminent in the near term, even as a new token called Remittix (RTX) is emerging on the scene.

Since ETH is presently at technical turning points, market analysts are trying to decide whether the next direction is a rebound or correction. Whale action and price action show a breakout, and it might soon be ratified by price actions.

Ethereum is trading at $1,598, with the 50-day and 100-day simple moving averages providing strong support just above that level. As CoinMarketCap and X analysts observe, the RSI is currently at about 46, indicating that the asset is neither overbought nor oversold, leaving it with room to continue moving upward.

Technically, ETH remains in a wide consolidation range. The bulls are awaiting the $1,675 level to confirm a breakout, while the bears are looking for $1,550 as the last major support. The MACD indicator shows minor bearish divergence, although some analysts anticipate this to be temporary and possibly to reverse in the opposite direction immediately.

Ethereum’s average daily trading volume has decreased by more than 12% to $11.22 billion. Although this may signify that interest is waning, on-chain statistics reveal large wallet addresses accumulating, which is usually a sign of smart money positioning in anticipation of a rally.

During the past week, Ethereum whales continued to calmly accumulate their positions. This slow build-up is fueling rumors of a major breakout on the horizon. Institutions prefer to pile up in drops, and current activity resembles accumulation periods seen before previous ETH rallies.

Several market analysts now anticipate that ETH could test the $1,750 and $1,900 levels in weeks if the momentum persists. The fact that Ethereum has managed to resist falling below key support, even while general market pressure is bearing down, supports the bullish Ethereum price prediction forecast.

It’s also worth noting Ethereum’s sustaining strength in smart contract usage and DeFi. The network still leads in TVL and on-chain usage, which contributes to the belief that ETH is still undervalued at present levels.

The doubters assert that the current bounce is a possible bull trap, citing weakening retail volume of trades and messy global macro signals. Future Federal Reserve actions and cryptocurrency regulation news are likely to generate additional volatility.

However, bulls argue that Ethereum’s consistent usage numbers and rising whale appetite give it firm ground to stand on. With RSI on midline levels and the price hovering on critical moving averages, Ethereum appears to bounce back more readily than it breaks down.

As expected, confirmation will be required from a strong push above resistance levels. In case ETH breaches above the $1,675 level on volume, the next leg higher can be swift and aggressive, further confirming the present Ethereum price prediction thesis among bulls.

While Ethereum is certainly a top contender in the minds of many investors, there are some who are also looking at newer tokens that offer practical real-world use and lower volatility. Enter Remittix, a fast-emerging PayFi solution simplifying cross-border crypto-to-fiat transactions.

Recently, Remittix has come through 527 million tokens sold and presale income of over $14.4 million. Its price is $0.757, and there’s quick momentum that’s building. The draw? Practical application. Remittix removes the complexities of transferring funds across borders, allowing users to easily accept cryptocurrency and instantly convert it to fiat.

Consider an East African consulting company working with European clients. With Remittix, the enterprise accepts crypto payments, which are immediately converted to the local currency. No exchange rate drama. No banking delay. Just seamless integration and speed.

Remittix offers value for its stability over speculative altcoins. Its focus on simplifying international transfers puts it in a league with XRP, but with a modern style and no legacy baggage.

As whales calmly position themselves for the next big move in Ethereum, the majority of small investors are eagerly awaiting the emergence of the next breakout project. With its growing presale numbers and clear use case, Remittix is fast becoming the subject of discussion among those seeking out promising ventures.

The post Ethereum Price Prediction as Whales Calmly Plit Up More ETH Ahead of Breakout Hopes appeared first on Tokenhell Cryptocurrency News.

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