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Ethereum’s bullish outlook indicates potential growth

Ethereum recently faced a 15% decrease, stabilizing at approximately 3,375 USD. Despite this drop, signs point to a potential bullish breakout, driven by chart patterns showing a macro reversal and bullish divergence on the weekly RSI for ETH/BTC.

Ethereum boasts a market capitalization of 406 billion USD, supported by a daily trading volume of 23 billion USD. U.S. Spot Ether ETFs have seen over 2.64 billion USD in net inflows, fueling market Optimism and supporting a potential price surge.

Ethereum’s supply on centralized exchanges fell from 16.12 million to about 15.3 million, indicating rising demand. This is underscored by a technical breakout from a long-term downtrend, with ETH likely to break through a critical price level, potentially climbing to 5,232 USD.

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