The price action of Ether (ETH) is reflecting a pattern seen during the bottom of early August, insinuating a renewed bull ahead.
Ether has faced a strong 32%decrease, falling to $ 2,770 since mid -December and has been significantly delayed behind its largest rival, Bitcoin (BTC). Volatility reached new heights on Monday when prices collapsed almost $ 2,000 in several exchanges, only to recover to $ 2,700 on the same day, the largest one day since September 2021.
The dramatic bidirectional price action resulted in an increase in volume trade on platforms such as Coinbase (Coin) and Bitstamp, batting levels not seen since August.
The increase in volume means that the sale pressure probably reached its maximum point at the beginning of the week, leaving less potential sellers in the market. That could help stabilize prices, potentially preparing the stage for a rally.
That is precisely the pattern observed on August 5, when ETH reached a minimum of around $ 2,100 in a bidirectional action in the back of the high volumes. The cryptocurrency was stabilized in the range of $ 2,200- $ 2,800 for a few weeks, entering a new upward trend later than prices increased to $ 4,100.
Let’s see if the story is repeated.
Demand during Monday supports the upward case.
“I am noticing a strong free sale demand for ETH, which is particularly remarkable in the middle of the corridor’s talk around a background that explodes in the midst of the weekend volatility,” said Jake Ostrovskis, an OTC merchant from the OTC of the OTC of the OTC of the OTC of the OTC Wintermute cryptocurrency manufacturer, A COINDESK Tuesday.
In addition, the ETF Spot Ether that they quote in the United States have registered $ 420 million in net tickets this week, according to Farside investors. That is almost 13% of the total of $ 3.18 billion from the beginning.
If that is not enough, a great call from Toro crossed the tape in Braadit this week, which implies a long position in the purchase option of $ 3,500 and a short position in the purchase option of $ 5,000, both expired on the 26th of December 2025. The strategy aims to benefit from a demonstration to $ 5,000 and more for the end of the year.
