Ethereum’s latest price performance indicates an Deviation from the negative trends as seen in the wider cryptocurrency market.
While assets like Bitcoin have met downward, Ethereum succeeded in a little positive move yesterday, Press its market value Back over $ 2,700. In the midst of this price movement, questions have been raised if the asset can silently build speed for one Suddenly rally.
Quietly moving behind the scenes
Santiment, a well -regarded market intelligence platform has recently been highlighted this price performance from ETH at X, note The fact that Ethereum has exceeded many altcoins at the beginning of the week.
This performance reported by Santiment can be attributed to the ongoing trend that that moves from exchanges to cold wallets at an accelerating rate.
In fact, only 6.38% of the available supply remains on exchanges, the lowest figure since the Ethereum start, according to Santiment. Santiment also revealed that renewed interest from the ETH community seems to be another factor behind this momentum.
Ethereum has shown mild signs of a rebound, currently back to a market value of $ 2,745 and exceeded most altcoins to start the week. From a long -term perspective, ETH continues to go off exchanges and to cold wallets at a shocking rate, with only 6.38% of … pic.twitter.com/4mtjgpoldt
– Santiment (@santimentfeed) February 17, 2025
After underperforming compared to other major assets in 2024, Ethereum is now paying attention to the fact that the market players are starting to predict a recovery as wider market conditions improve.
Santiment’s analysis points to these movements as early indicators that Ethereum can be placed for more growth in the coming months.
A potential upside for Ethereum and Altcoins
In the future, different market analysts have shared optimistic views for Ethereum’s performance. For example, Javon Marks sees ETH coming out of a long consolidation phase.
According to Marks could the asset possibly Reset over 72% from their current levels and return to their high zones. Such a movement can also lead to significant haussearted momentum for other altcoins, which further improves the role of Ethereum as a Altcoin market leader.
Comes out of what may have only been a massive bottom/consolidation, $ Can set here for an over +72.1% increase in a recovery back to their ATH areas!
Ethereum can still have a large upside coming, and this can also help Alts to significant bull movements. https://t.co/ykb13rwh99 pic.twitter.com/6fltjolhq0
– Javon
Marks (@Javontm1) February 17, 2025
Another perspective comes from crypto -analyst Ali, as identified A crucial support level to $ 2,425. This level is remarkable as it represents the accumulation zone for 10.33 million wallets with a total of 62.43 million ETH.
Featured Image Created with Dall-E, Chart from TradingView
