ETH Price Surges 6% Post-Halving: Will the Momentum Sustain?
ETH has been on a bullish run since the halving day, with a 6% increase in its price. The rise in price has been supported by a slight increase in the total balance of top non-exchange addresses, indicating accumulation by influential investors.
Prominent crypto market analyst Ali Martinez predicts that if ETH can break above the $3,270 resistance level, it could rally all the way to $3,650. Futures traders on Binance have also been betting on ETH’s rise, with the percentage of whale accounts taking bullish bets increasing from 71% to 74% since the halving.
Technical indicators such as the RSI and MACD are also pointing towards a bullish trend for ETH. The RSI hitting the neutral 50 level and the MACD crossing above the signal line suggest a potential price increase in the coming days.
With market sentiment leaning towards greed and the possibility of a sustained rally, investors are keeping a close eye on ETH’s price movements. Will the momentum sustain, or will ETH face a correction in the near future? Only time will tell.
