Will ETH rally continue past $2,600 support?


Ethereum has been showing some significant movement in recent weeks. Let’s break down the latest trends and ETH price predictions in simple points for easy understanding.

1. Current Price Movement and Key Levels

  • Ethereum is trading around its 50-day Exponential Moving Average (EMA) at $2,601.
  • On September 19, ETH broke above a descending trendline, leading to an 11% rally.
  • If the 50-day EMA holds support, ETH could continue its rally and retest the August 24 high of $2,820.
  • However, if the price falls below $2,601, it may drop further to $2,461 and potentially retest the September 6 low of $2,152.

2. RSI Signals: What Does It Say?


  • The Relative Strength Index (RSI), currently near 55, indicates weak bullish momentum.
  • For the rally to gain traction, the RSI needs to rise above 60, signaling stronger buying power from investors.
  • If RSI remains below 55, the market could continue to see limited upward movement.

3. Ethereum Holders’ Profitability: A Positive Sign

  • The number of profitable Ethereum holders has increased significantly.
  • According to recent data, 68% of ETH holders are now in profit, compared to 59% earlier.
  • Over 83 million addresses are currently holding ETH at a profit, while around 29.47% of addresses are at a loss.
  • A small percentage (2.38%) of holders are breaking even.

4. Exchange Netflow Trends: More Outflows Than Inflows


  • Ethereum’s exchange netflow shows more ETH leaving exchanges than entering.
  • This signals that investors might be holding onto their coins, rather than selling.
  • In the last trading session, the net outflow was over 28,000 ETH.
  • Outflows like this often suggest fewer immediate sell-offs, which can stabilize prices in the short term.

5. Ethereum Aiming for $20,000 by 2025


  • Crypto analyst Julien Bittel predicts Ethereum could reach $20,000 by early 2025.
  • This forecast is based on Ethereum’s price pattern from January 2023 to March 2024, which shows a similar trajectory.
  • If this trend continues, Ethereum could see significant gains in the near future.

Ethereum’s Future Outlook

Ethereum’s price action and market data show a promising outlook, especially if key support levels hold. While short-term fluctuations are expected, the potential for a significant price surge by 2025 has many investors optimistic. Keep an eye on market trends and technical indicators as ETH continues its journey toward new heights.

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