Ethereum analysts see ‘upward breakout’ as ETH price returns to $3K
Ethereum (ETH) reclaimed the $3,000 level, rebounding 16% from its recent low. Analysts point to strong whale accumulation, with wallets holding 10,000–100,000 ETH adding over 22 million tokens in six months, signaling confidence in a rally. Exchange balances dropped sharply to a nine-year low, reducing sell pressure. Network activity surged, with active addresses up 22% and transactions increasing. Upcoming scaling upgrades may further boost performance. Analysts expect an upward breakout if ETH breaks the $3,200 resistance, targeting $3,650–$3,700, with some charts suggesting long-term potential up to $7,000.
cointelegraph12/22 15:49