Ethereum Price Flashes New $5,400+ Target As Key Metric Drops To 6-Month Low 📈
Ethereum shows signs of a bullish breakout after a Federal Reserve rate cut. Its price climbed about 2.2% to over $4,600 due to reduced selling pressure and a "cup and handle" formation targeting $5,430. On-chain data reveals a sharp decline in the "Spent Coins Age Band," exposing minimal selling.
The decline suggests holders are not cashing out, thus creating room for Ethereum's price to rise if demand sustains. Other metrics, like NUPL and exchange flows, confirm this decrease in selling pressure, revealing strong holders are awaiting higher profits.
These favorable metrics are complemented by Chaikin Money Flow trending toward positive, indicating new capital influx. However, caution is advised if prices drop below key support at $4,213, invalidating the bullish setup.
Similar articles (21)
Can Ether price reclaim $4,500 in October?
Ethereum reclaims $4K: Three reasons why ETH price will ‘pump’ in October
ETH surge to $4.5K proves the bottom is in: Data predicts a 100% rally next
Ether ‘3-wave pullback’ to end soon, $5.5K next: Fundstrat
Ethereum Price Eyes $4,500 as Blazpay’s Top Crypto Presale Crosses $767K in Phase 2
Critical Price Level Alert: $4,505 Resistance for Ethereum (ETH) Could Determine the Next Big Move
Ethereum (ETH) Price Alert: Bulls Target $5K, Bears Eye Sub-$4K Drop
Ethereum Price Rally: After Crossing $4,200, Is $4,500 the Next Stop?
Ethereum Price Prediction: Surprise Bounce Recovers $4,000 – On-Chain Signals Point to Greater Gains
Ethereum Price Prediction: SEC Halts $ETH Treasury Stock After 2,000% Surge – Is ETH More Bullish Than Most Realise?
Ethereum Targets New Heights as Key Indicators Drive Optimism
Ethereum Price Targets $5,430 as Selling Pressure Hits Six-Month Low
Ethereum (ETH) Near Breakout as Bulls Eye $3,880 Resistance and Potential New Highs
ETH price prediction: Is Ethereum the yield crypto as rates stay high?
Ethereum price outlook: On-chain strength backs bullish case as analyst eyes $6000 target
Ethereum price prediction: Can ETH reclaim $4,500 as network activity rebounds?
Ethereum price analysis: ETH remains in bullish structure despite market cooldown
Ethereum price prediction: Can Fusaka upgrade spark a breakout?
Here’s why Ethereum price reclaimed key $4k support
Can Ethereum price stay above $4,100 after BitMine’s $213m buy?
