CandleFocus Ethereum (ETH) Surges 44% in 30 Days, but Caution Flags Emerge
2024-12-02
Author: Content Editor
The Ethereum (ETH) price has surged by 43.88% in the last 30 days, indicating strong momentum. The decreasing supply of ETH on exchanges suggests that holders are gaining confidence and transferring their tokens to long-term storage. Furthermore, whales are accumulating more ETH, which adds to the bullish sentiment in the market. The EMA patterns also indicate a positive outlook. However, caution is advised as there could be a weakening of the uptrend if the price fails to recover quickly. If the uptrend continues, ETH could potentially reach key resistance levels at $3,688 and $3,763, and even touch $4,000, signaling a strong bullish reversal. On the other hand, if a downtrend forms, ETH may face a correction to $3,255, representing a possible 10% pullback.
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