Ether (Eth) jumped 7% in 24 hours on 3 March, on March 3, about $ 2,350, topped in $ 2,550 before taking advantage. Despite the rebound, it is up its $ 2,075 at least 13% last week.
Eth/USD price chart of four hours. Source: TardingView
Many catalysts are helping ether rebounds from their recent climbing, namely:
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Trump’s latest update on US Crypto Strategic Reserve.
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Increase ETH supply between whales.
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Improve technology including a strong support confluence.
Trump Crypto to include ETH in Strategic Reserve
The latest price growth of Ether has been held responsible for the declaration of Trump of the US Crypto Strategic Reserve on a large scale.
what to know:
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Trump directed the President’s working group on digital assets to include XRP (XRP), Solana (SOL), and Cardano (ADA) in a Crypto Strategic Reserve.
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Trump said that Bitcoin (BTC) and Ether would be in the “Dil of Reserve”.
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Being part of a national reserve strategy, regulator may suggest clarity and institutional acceptance of ETH.
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Analysts see this as a rapid signal for the long -term role of the atherium in the financial system,
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For example, popular crypto analysts Posidon, estimating a $ 4,000 rally by April.
Source: Posidon’s x post thread
Etharium whales are awake
The profit of ether in the last 24 hours appears after a steady increase in ETH supply organized by the whale.
key takeaways:
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Big Ether holders (1K-10k eth) are increasing their accumulation of Eth from January, data from Glassnode Show,
Etharium whale net position change (1K-10k eth). Source: Glasanode
Etharium mega-whale net position change (10k+ eth). Source: Glasanode
Connected: Ethereum’s pectra upgrade can do ground task for next market rally
Source: coincidence
Ath Price Bounce from Multimonous Support
The advantage of ether today appears after testing a multimonous accumulation area (red area), which has historically led the short -term value rebellion.
Eth/USD Daily Price Chart. Source: TardingView
key points:
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Ether beer has failed to run prices below the range of $ 2,100-2,500 since December 2023.
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The range includes a major support level in the form of a 200-week exponential moving average (200-week EMA; Blue Wave), which is currently approximately $ 2,300.
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As of 3 March, Ether is rebounding after testing the 200-week EMA, an eye on an extended rebound towards the 50-week EMA.
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A breakout above the 50-week EMA can send a price to the upper range of its prevalent rectangle pattern at approximately $ 4,000.
Source: Peter brant
Eth/USD Weekly Price Chart. Source: TardingView
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The H&S pattern is resolved when the price breaks down its neckline support and falls more as the maximum height of the pattern.
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If the current recovery fails, this technical rule brings $ 1,360 as the primary negative target of the atherium.
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
