Ethereum $ETH 's price trajectory shows bullish momentum as accumulation addresses surpass 20 million. Here’s what to watch:
1. Strong Accumulation Signals Confidence
Ethereum accumulation addresses now hold over 20M $ETH , reflecting sharp buying action by institutional investors and long-term holders. This trend suggests confidence in ETH’s long-term value. With fewer tokens circulating, a supply squeeze could drive price upward.
2. Bullish Chart Pattern: Inverse Head and Shoulders
ETH’s price chart shows an inverse head and shoulders pattern, a classic indicator of bullish reversal. A breakout above the $4,000–$4,200 neckline, confirmed by strong volume, could propel ETH to $6,000 or beyond.
ETH/USD weekly chart | Source: Trading View
Note: Analysis and above chart reflect data trends as of December 23, 2024.
3. Historical Trends Support 2025 Bull Run
Past data reveals Ethereum thrives in the first four months post-election years. Gains of 78% (2021) and 214% (2017) highlight the potential for explosive growth in early 2025, fueled by seasonal optimism and adoption.
Ethereum’s network strength and investor confidence position it as a key player in crypto’s next cycle. Keep an eye on these trends as the market evolves.