\n\t\t\t\t\t\t\t\t\tETH looks “pretty attractive” in the short term, said one popular analyst.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The second-largest cryptocurrency has staged a minor resurgence over the past week, while numerous analysts believe a much more substantial pump could be on the way.<\/p>\n
Certain technical indicators support the bullish outlook and may indeed set the stage for a more meaningful recovery.<\/p>\n
Is ETH Ready to March?<\/h2>\n
After the devastating June lows, the bulls clawed back some of the losses and even briefly pushed the price above $1,800 over the weekend. However, the bears offered strong resistance, and ETH currently trades at around $1,750 (per CoinGecko), representing a 1% increase for the past week.<\/p>\n
According to X user Ted, such a level can be considered a good sign and shows that sellers no longer dominate. He believes<\/a> that holding above the $1,750 support zone is crucial and could open the door to a rally towards $2,000.<\/p>\n Michael van de Poppe was even more optimistic, expecting<\/a> the next breakout to push ETH to $2,500. For their part, Al\u039ex Wacy claimed<\/a> that the asset needs to break above a certain descending trendline that has historically fueled 250% pumps in weeks. The analyst pointed out that this critical threshold sits at around $1,880.<\/p>\n Altcoin Sherpa gave their two cents, too. While noting ETH\u2019s price decline over the last several months, the analyst described<\/a> it as \u201cpretty attractive\u201d in the short term with potential to climb to around $2,500.<\/p>\n Ali Martinez also chipped in, vowing<\/a> to open a long position in ETH if its price surpasses $1,850. It is important to note that his previous take on the asset was rather bearish, outlining<\/a> that its TD Sequential indicator flashed a sell signal and that could be followed by a plunge to as low as $1,700.<\/p>\n ETH\u2019s Relative Strength Index (RSI) reinforces the predominant optimism shared by the aforementioned analysts. The technical analysis tool, whose ratio runs from 0 to 100, has fallen to around 30, indicating that the asset has entered oversold territory and could be on the verge of a rally. Conversely, readings above 70 are interpreted as pre-pullback signals.<\/p>\n Next on the list is the declining amount of ETH stored on exchanges. Today (July 13), the figure dropped to a nearly ten-year low of around 15.3 million units. Fewer coins on centralized platforms usually result in reduced immediate selling pressure.<\/p>\n \u00a0<\/p>\nYou may also like:<\/h3>\n
The Bullish Metrics<\/h2>\n
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