Hello Traders 🐺
Today I’ve got some good news for ETH, and I also spotted a bullish pattern forming. Plus, I’ll talk about the short-term price targets, so stick with me until the very end—and don’t forget to like for more support! 👍🔥
Alright, let’s get into it:
According to Glassnode and Santiment, only 14% of the total ETH supply is left on centralized exchanges. That’s the lowest level in nearly 10 years — but what does it mean?
Usually, this type of data hints at major volatility incoming. And guess what? The big players are the ones playing this game. Let me explain:
They keep the price artificially low, slowly exhausting retail traders and shaking them out. Meanwhile, they accumulate quietly. Once their bags are full, they remove the sell pressure, and suddenly…
🚨 Supply shock.
People start panic buying, and with so little ETH available on exchanges, the price skyrockets.
Also, ETH transaction fees have dropped to their lowest levels since mid-2020, which I see as another bullish sign for Ethereum. Now let’s look at the chart:
We have a clear falling wedge pattern on the daily timeframe, along with a potential double bottom forming.
If the price breaks above the neckline of this “W” formation—which also aligns with a strong daily resistance—I expect a strong reversal for ETH. 📈🚀
Make sure to act accordingly, and as always:
🐺 Discipline is rarely enjoyable, but almost always profitable 🐺
🐺 KIU_COIN 🐺
Today I’ve got some good news for ETH, and I also spotted a bullish pattern forming. Plus, I’ll talk about the short-term price targets, so stick with me until the very end—and don’t forget to like for more support! 👍🔥
Alright, let’s get into it:
According to Glassnode and Santiment, only 14% of the total ETH supply is left on centralized exchanges. That’s the lowest level in nearly 10 years — but what does it mean?
Usually, this type of data hints at major volatility incoming. And guess what? The big players are the ones playing this game. Let me explain:
They keep the price artificially low, slowly exhausting retail traders and shaking them out. Meanwhile, they accumulate quietly. Once their bags are full, they remove the sell pressure, and suddenly…
🚨 Supply shock.
People start panic buying, and with so little ETH available on exchanges, the price skyrockets.
Also, ETH transaction fees have dropped to their lowest levels since mid-2020, which I see as another bullish sign for Ethereum. Now let’s look at the chart:
We have a clear falling wedge pattern on the daily timeframe, along with a potential double bottom forming.
If the price breaks above the neckline of this “W” formation—which also aligns with a strong daily resistance—I expect a strong reversal for ETH. 📈🚀
Make sure to act accordingly, and as always:
🐺 Discipline is rarely enjoyable, but almost always profitable 🐺
🐺 KIU_COIN 🐺
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.