- Ethereum has been on a tear lately, with spot ETF flows soaring and more holders basking in profit.
- However, the fear of profit-taking lurks as ETH could face a short-term pullback while testing $2.8K.
Ethereum [ETH] has skyrocketed by a cool 64% in just 19 days—because why not? It’s not like there’s anything to worry about… right? The falling exchange reserve clearly shows ETH has been accumulating, signaling an early recovery phase. Who knew a digital currency could be so dramatic?
The announcement of the Pectra upgrade didn’t just bring in retail staking participants; it attracted the big players too. Turns out, post-upgrade Ethereum has some serious street cred, as staking inflows shifted in favor of higher confidence. Seems like everyone’s betting on Ethereum’s future… which is either a sign of brilliance or impending disaster—who’s to say? 🤔
Spot ETH ETF flows made a grand entrance, hinting at a bullish phase ahead. A couple of weeks ago, ETH shot up 12% in a day, from $1,580 to $1,770. Of course, the next four days were less spectacular, as ETH demanded a little “me-time” to slow down. Classic cryptocurrency drama.
But, let’s be real, a sustained uptick in spot ETF may not instantly translate to gains. Still, it’s a sign that people are getting rather bullish on ETH. But will the party continue, or will short-term holders cash out and rain on everyone’s parade? 💸
Is Ethereum at risk from profit-taking activity? Or is it just a phase?
The percent supply in profit metric has fallen to levels not seen since November 2022—remember that? The price action of the last three weeks has sent the metric shooting up, but we’re not at the 95% threshold yet, so no need to panic just yet. But you know how it goes, things can get spicy fast.
According to Coinalyze (which sounds like a website you definitely want to visit), spot demand has been pretty significant this past month. So yeah, the current rally is backed by real demand, not just some random price swings. Short-term holders realizing profits may not be as big of a threat as some might think. But, like a mysterious subplot in a sci-fi show, only time will tell.
The 6-month ETH liquidation heatmap (who knew those existed?) shows that the next major liquidity pockets are around the $2,718 and $2,878 levels. Translation: ETH could very well keep climbing past $2.6K, so hold on to your hats, folks!
On the 3-day chart, we see a supply zone at $2,750-$2,820. Looks like this aligns perfectly with the liquidation heatmap. Traders are probably licking their lips, waiting to take profits at those levels—because, let’s face it, who wouldn’t?
As for whether ETH can break $3K in the immediate future? Well, it’s anyone’s guess. The price action suggests a few weeks of consolidation beneath $3K might be in store. Think of it like the calm before the storm. Grab your popcorn. 🍿
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2025-05-12 10:38