Today, a large transaction was recorded on the network: 21,335 ETH worth $82,657,950 was transferred from the Binance exchange to an unknown wallet. This event has sparked a wave of discussions in the crypto community, where traders are sharing their expectations and forecasts about the future price movement of Ethereum.
At the time of writing, Ethereum is trading about 20% below its historical maximum of $4878, reached on November 10, 2021. However, over the last 30 days, the asset has shown a 29% increase, indicating a return of investor interest.
Some traders note that Ethereum is going through a phase similar to what happened with Bitcoin before its recent rise. The influx of capital into ETH-#ETF is steadily increasing, and the last week closed at the highest levels since the beginning of the year. These factors, according to many, create conditions for testing a new historical maximum.
The technical picture is also attracting attention: on the charts #Ethereum a pattern known as 'cup with handle' is forming. This model usually signals an increase, which adds optimism for the bulls. On December 6, the ETH price exceeded the $4000 mark for the first time since March, further fueling expectations of a significant rally.
Traders are currently expecting that the ETH market will continue to attract capital and break through a psychologically important level soon. Some are confident that a new maximum may be reached as early as next week.
Stay tuned for news and watch the charts — Ethereum may surprise. 🚀 Subscribe@Sasha why NOT
#ETH $ETH
