- Ethereum has strongly realized and defeated the five -month downward trend
- The largest Altcoin -Momentum collapsed the market into a bullish frenzy
Ethereum [ETH] Led the altcoin and gathered 47% in five days. During this time BTC had risen by 7.9%. Predictable, this saw the Bitcoin -Dominance fall from 65.36% to 62.38% in six days. The Altcoin market added $ 232 billion in the same period.
The Pectra upgrade attracted more than just retail investors. It also witnessed sales pressure with whaling deposits in centralized exchanges.
Ethereum is approaching the 50% Retracement or … breakout
Source: ETH/USDT on TradingView
The OBV had been in a steady relapse throughout the year. That changed the last month, and the trend removal on the OBV was a sign that buyers were dominant. The CMF agreed with this finding.
The lecture was at +0.25, which points to heavy capital inflow on the market. The MFY also rose to show bullish momentum and capital flow. However, the indicator was not yet a bearish divergence on the 1-day graph.
That is why there was more room for Ethereum to gather. The Fibonacci levels set based on the 2025 -Down trend showed that the level of 50% at $ 2,774 was near.
The liquidation map emphasized the lack of short liquidations. High leverage long positions were open and a decrease to $ 2.4k and $ 2.5k would wipe out many of these positions.
This meant that traders should be wary of a southern liquidity yacht.
The 6-month liquidation heating showed that the $ 2.9k area was a strong magnetic zone. Eth went to this level sooner or later, but a breakout behind it was no guarantee.
Bullish Bitcoin [BTC] And macro -economic conditions should be possible in line with an ETH movement to $ 2.9k to catalyze a movement that goes beyond the psychological resistance of $ 3K.
The 1 -month liquidation heat map shows Ethereum that consolidates around $ 1.8k at the beginning of May, which activates short liquidations at $ 1.9k before it pushes higher. In recent days a similar but less intense pattern has emerged.
The liquidity is built in the vicinity of the $ 2.7k zone, with EHH already claiming part of it. In the coming days or weeks, further consolidation under $ 2.8k is possible before a rally.
In the meantime, traders and investors can consider making a profit and preparing for a potential retracement, because Walvis’s sales activity has recently increased.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer