Ethereum Holds Above $3,473 Amid Consolidation Exit, Targeting Potential Breakout Toward $30,000
Main Idea
Ethereum is breaking out of a consolidation phase, maintaining support above $3,473 and targeting a potential rally toward $30,000, supported by whale activity and technical indicators.
Key Points
1. Ethereum has exited its third major consolidation phase, trading above $3,473 with resistance at $3,550–$3,825, critical for confirming a breakout.
2. Whale activity includes deposits of over 26,000 ETH ($93.6M) to exchanges and transfers of 2,300 ETH by Arthur Hayes to Binance and B2C2, indicating market stabilization.
3. Technical indicators show the 0.236 Fibonacci retracement level at $3,511 holding firm, with RSI at 54, suggesting potential bullish momentum if $3,825 is breached.
4. Liquidations have declined sharply, with $113M in outflows, signaling a shift toward accumulation and renewed buying interest.
5. A decisive breakout above $3,550–$3,825, supported by rising volume, could challenge previous highs near $3,950 and set new records.
Description
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