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Cryptocurrency News Articles
Ethereum (ETH) Price Prediction: ETH Gains Traction with Strong On-Chain Activity and Market Momentum
Jan 19, 2025 at 07:36 am
Ethereum price is gaining traction with strong on-chain activity and market momentum. A potential head-and-shoulders pattern signals bullish growth, while ETF inflows hit record levels. Recent whale transactions also show confidence in Ethereum's potential for further price gains.
Ethereum price analysis reveals bullish momentum as the price trades above $3,400. A bullish trendline formation and strong market support indicate a positive trend.
However, further gains may be limited by the upcoming resistance level.
Ethereum price analysis reveals bullish momentum as the price trades above $3,400. A bullish trendline formation and strong market support indicate a positive trend. However, further gains may be limited by the upcoming resistance level.
The world’s second-largest cryptocurrency by market capitalization continues to trade positively as 8% gains over the past 24 hours have brought ETH closer to breaking past $3,500.
A recent analysis by Ali outlines key bullish indicators that have contributed to Ethereum’s price surge.
A potential head-and-shoulders pattern formation on the 4-hour chart is signaling bullish growth.
A “head” formation can be observed around April 17 when ETH price reached a high of $3,444. This was followed by a “left shoulder” formation on May 8 as the price dropped to a low of $2,800.
Currently, the right shoulder is forming as the price consolidates in the $3,380 to $3,420 range.
If this pattern completes and the neckline is broken, it could indicate a possible bullish continuation.
Moreover, ETF inflows hit record levels in January as data from Finbold reveals.
Net inflows into Ethereum ETFs reached $166.6 million, the highest among major crypto assets.
This occurred as the price of ETH rose to $3,409, coinciding with a period of high demand for the asset in the market.
ETFs serve as an accessible investment vehicle, making cryptocurrencies like Ethereum available to a broader range of institutional and retail participants.
However, as ETF participation continues to grow, with total assets under management (AUM) now exceeding $12 billion, this indicates increasing confidence from investors in Ethereum as a digital asset.
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