Crypto analyst Ali Martinez discusses Ethereum's current price action below $4,000 and whether it's time to consider giving up on ETH. He highlights Ethereum's historically strong first-quarter performance and notes that 2025 could follow this trend, leading to significant crypto whale accumulation.
Martinez points out that nearly $1 billion in Ethereum was bought by whales recently, alongside $2 billion worth of ETH withdrawn from exchanges in the past month. This accumulation suggests a positive outlook as investors remain bullish on Ethereum.
Martinez identifies critical resistance levels for a bullish breakout, notably the $3,360 to $3,450 range and key support zones from $3,066 to $3,160. He notes a potential rally to $7,000 if Ethereum breaks above $4,000, underlining this with Market Value to Realized Value (MVRV) insights.
However, a concern is Ethereum's slowed network growth, indicated by a 9.32% decline in new ETH addresses, suggesting reduced adoption. Still, Martinez maintains a bullish perspective, emphasizing the importance of the $2,700 to $3,000 support zone for Ethereum's outlook.
Fuente: www.newsbtc.com ↗