Ethereum (ETH) has recently experienced a decline in its price, leading to a downward trajectory. However, a potential bullish reversal might be on the horizon as Ethereum’s price chart showcases a double-bottom pattern near key support levels. This pattern is often considered a strong technical indicator for a price rebound.
In addition to the double-bottom pattern, there has been a noticeable increase in whale transactions and active addresses related to Ethereum. These factors suggest positive momentum that could support a bullish turnaround for the cryptocurrency.
The combination of technical indicators and increased activity among large holders might indicate that Ethereum is gearing up for a recovery. Investors and traders are keeping a close eye on these developments.
