The action of the prices (ETH) of Ether reflects a model seen at the start of the bottom, referring to a bull race renewed in front.
Ether was faced with a sharp drop of 32%, falling to $ 2,770 since mid-December and has delayed its biggest rival, Bitcoin (BTC) a lot. Volatility has reached new heights on Monday when prices dropped at almost $ 2,000 on several scholarships, to bounce back to $ 2,700 on the same day, the largest swing of a day since September 2021.
The spectacular two-way action led to an increase in negotiation volumes on platforms like Coinbase (Coin) and Bitstamp, striking levels that we have not seen since August.
The peak in the volume means that the sales pressure probably reached its peak at the start of the week, leaving fewer potential sellers on the market. This could help stabilize prices, potentially preparing the land for a rally.
It is precisely the scheme observed on August 5, when ETH reached a minimum of about $ 2,100 in a two -way action at the rear of high volumes. The cryptocurrency stabilized in the range of $ 2,200 to $ 2,800 for a few weeks, entering a new upward trend that has seen prices increase to $ 4,100.
Let’s see if history is repeated.
The demand on Monday’s decline supports the bullish case.
“I notice a strong demand for the sale of ETH, which is particularly remarkable in the middle of a chatter around a fund exploding in the midst of the volatility of the weekend,” said a merchant, a merchant In OTC at Crypto Market Maker Wintermute, Coindesk.
In addition, the Ether Spot Ether on the United States recorded $ 420 million in net entries this week, according to Farside Investors. This represents almost 13% of the total entries of $ 3.18 billion since the creation.
If that is not enough, a large propagation of bull call has crossed the band on the drunken this week, involving a long position in the purchase option of $ 3,500 and a short position in the option to buy From $ 5,000, both expiring on December 26, 2025. The strategy aims for a rally at $ 5,000 and more by the end of the year.
