Ethereum, the unsung hero of the cryptocurrency world, seems to be defying the odds while its peers face the bear’s wrath.
As Bitcoin and others bend under pressure, Ethereum stood tall, gaining ground and reclaiming its value over $2,700. This begs the question: is Ethereum gathering strength for a surprise comeback?
Stealthy Moves and Growing Strength
Market intelligence platform Santiment sheds light on Ethereum’s recent achievements, revealing that ETH has outshone many altcoins at the start of the week.
What’s driving this surge? Santiment points to the increasing rate of ETH leaving exchanges for cold wallets and the renewed interest from the ETH community.
With only 6.38% of Ethereum’s supply left on exchanges—the lowest since its inception—it’s no wonder that analysts are starting to take notice.
ETH has shown mild signs of a rebound, now back up to $2,745 and outpacing most altcoins to start the week. From a long-term perspective, ETH continues to move off of exchanges and into cold wallets at a shocking pace, with just 6.38% of the…
— Santiment (@santimentfeed) February 17, 2025
After underperforming other large-cap assets in 2024, Ethereum is now turning heads as market participants anticipate a rebound when broader market conditions improve.
Santiment’s analysis suggests that these movements could be early indicators of Ethereum’s readiness for a more substantial growth in the coming months.
A Promising Future for Ethereum and Altcoins
As we look forward, various market analysts have shared optimistic outlooks for Ethereum’s performance. Javon Marks, for instance, predicts ETH breaking out of its consolidation phase and potentially recovering over 72% from its current levels.
Such a move could rekindle significant bullish momentum for other altcoins, further solidifying Ethereum’s role as an altcoin market leader.
Coming out of what may have only been a massive bottoming/consolidation, $ETH could be setting up here for an over +72.1% surge in a recovery back to its ATH areas!
Ethereum could still have a major upside coming, and this could also aid alts into significant bull moves as well.
— JAVONMARKS (@JavonTM1) February 17, 2025
Crypto analyst Ali, on the other hand, highlights a crucial support level at $2,425, which represents the accumulation zone for 10.33 million wallets holding a total of 62.43 million ETH.
Could Ethereum be the dark horse of the cryptocurrency market? Only time will tell, but one thing is certain: this quiet giant is worth keeping an eye on.
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2025-02-19 06:42