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Quick analysis of the situation
Hold onto your hats, crypto enthusiasts! The Ethereum rollercoaster is taking another thrilling turn, and it looks like it’s headed straight into the stratosphere! Just when we thought the market had settled into a lull, Ethereum has decided that the $4,000 price level is not just a pit stop but a launchpad for soaring heights. Yes, you heard it right—Ethereum is back in the game, and it’s packing some serious bullish momentum after a remarkable surge in Spot ETF inflows that hit a jaw-dropping $428 million on December 5. Talk about a Christmas miracle!
As we sip our spiced lattes and revel in the excitement, we can't ignore the elephant in the room—regulatory changes are on the horizon. With the incoming Trump administration allegedly set to bring some crypto-positive vibes, investors are pouring in with unabashed enthusiasm, eagerly anticipating the dawn of altcoin season.
Now, let's talk charts! Ethereum has done something remarkable. It has decisively broken out of a massive triangle formation on the weekly timeframe—cue the confetti! This three-year-long triangular saga has been a bit of a twisty plot, filled with lower highs and higher lows that kept us on the edge of our seats. Ethereum's price range was tighter than a can of sardines, but it has now broken above the upper trendline, signaling that the bull run we've been whispering about has finally come out of hibernation. According to crypto analyst Captain Faibik, the 2024-2025 bull run has “officially started”—and he’s got the charts to back it up!
So, what’s the target? Buckle up for this—$10,000! Yes, that’s right. As insane as it sounds, if Ethereum keeps its current trajectory, we might witness it leap into new all-time highs directly from the history books. Just imagine that elusive $10,000 target dangling like a tempting piñata waiting to be smashed.
Adding fuel to this bullish fire, on-chain data is coming in hot—especially large transactions. Picture this: the volume of transactions worth $100,000 or more has skyrocketed over 300% this past week, amassing a stellar $86.15 billion in just seven days. It’s like investors are lining up outside a trendy nightclub, eager to get in. This surge in participation from whales and institutional players signals that Ethereum is being taken seriously once again. Who knew we had so many high-net-worth individuals lurking in the shadows?
Let’s not forget about Ethereum's profitability metrics. The charts are looking clearer than a sunny day at the beach. Crypto analyst Ali Martinez points out that there’s little holding Ethereum back from its much-coveted all-time high. With only a smidge of resistance at $4,540 and a robust support zone at $3,560, the bullish landscape has never looked better.
As of now, Ethereum is cruising at $4,010, enjoying an 8% jump in the last 24 hours. If this energy keeps up, we might as well get our party hats and confetti ready for the next Ethereum soiree!
So gear up, fellow traders! The Ethereum train is rolling, and it seems like there's no stopping it. Let’s embrace this euphoric moment and watch as the crypto fireworks light up the sky! 🚀
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Image(s) are provided by Unsplash and/or other free sources. They are illustrative and may not represent the content truly.
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Please, behave!