Ethereum continues to remain stable despite ongoing volatility, with ETH hovering just below the $4,500 mark. The sudden profit remains elusive, but assets are equally protected from sudden declines.
The accumulation of strong investors has helped Altcoin King maintain stability, fostering optimism about a potential recovery in the coming days.
Ethereum holders continue to accumulate
Ethereum’s net exchange position emphasizes that ETH owners are moving towards accumulation again. Over the past week, the exchange has recorded over 420,000 ETH outflows, worth around $1.87 billion.
These consistent outflows show optimism despite recent market fluctuations. Investors move exchanges that move ETH usually show a decrease in sales intent and strengthen the case of retention.
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Changes to Ethereum Exchange net position. Source: GlassNode
From a technical standpoint, Ethereum’s RSI is currently located in the bullish zone above the neutral 50.0 mark. This arrangement shows that assets retain upward momentum despite fluctuations and strengthen the potential for sustained growth if market conditions align.
The RSI remains in bullish territory throughout most of the moon, and it is only possible to temporarily soak up negative levels. This consistency suggests that ETH is likely to continue to benefit from positive momentum.
ETH prices remain bullish
The price of Ethereum is currently trading at $4,468, and is shy about the $4,500 resistance. Altcoin is integrated near this level and shows resilience even when broader market trends remain mixed.
Given the sentiment and accumulation trends in the supportive market, Ethereum is poised to reclaim $4,500 as a support floor. Turning through this level opens up ways for ETH to challenge the next $4,775 resistance.
ETH price analysis. Source: TradingView
However, if bear pressure builds up, there remains a negative risk. In such a scenario, Ethereum could lose its footing and slip to a support level of $4,307. Falling into this zone will temporarily invalidate bullish papers, deepening the losses of potential investors.
The Post Ethereum Holder maintains the price at $4,500. This is the first time that ETH came out in Beincrypto.
