CoinVoice has recently learned that Matrixport released a daily chart stating that Ethereum, similar to Bitcoin, often loses momentum when prices rise significantly, especially when the price increases by more than 60% within 30 days. Historical data shows that this is usually a good profit-taking opportunity. The current price has retraced to the same level as a month ago, which may indicate that a re-entry opportunity is brewing, especially if the cryptocurrency bull market is expected to last until 2025.
It is worth noting that Ethereum has not shown the higher beta characteristics in this round of rebound as it did in the last bull market. However, it remains a favored asset among investors. The recent continuous inflow of ETF funds is the best proof of this. This strong demand not only highlights Ethereum's important position but also indicates that it is still highly regarded even if its performance in this cycle is slightly below expectations. [Original link]
