Ethereum signals 3 bullish trends: whales are buying ETH



The price of Ethereum (ETH) shows a rare technical signal. It was last recorded six months ago when the token rose by more than 80%. Currently, ETH is trading around $4 020. The coin has decreased by 1.8% in the last 24 hours, by 8.7% over the week, and nearly 10% over the past 30 days, indicating a downward trend.

However, fresh on-chain data and a rare pattern suggest that the decline may soon give way to a new wave of growth.

Bullish divergence on the horizon
The Relative Strength Index (RSI), measuring the speed and strength of price movements, shows a bullish divergence. This occurs when prices form lower lows while the RSI forms higher highs. The pattern indicates a weakening of selling pressure.

Bullish divergence often signals a potential reversal and may indicate the end of a downtrend. The last time Ethereum demonstrated such a pattern was from March 10 to April 21, when the coin rose by 84.46%. Prior to that, Ethereum was in a similar phase of decline. A repetition of the situation now may indicate a close reversal of the current trend.
ETH-4.24%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
Emiliyovip
· 10-19 15:02
Watch closely 🔍
View OriginalReply0
Emiliyovip
· 10-19 15:02
Watch closely 🔍
View OriginalReply0
Ybaservip
· 10-16 20:39
Hold on tight, we're about to To da moon 🛫
Reply1
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)