Is Ethereum Quietly Building Momentum for a Rally? Analysts Weigh In
Ethereum’s recent price performance indicates a departure from the negative trends that are seen in the broader cryptocurrency market. While assets such as Bitcoin have faced downward pressure, Ethereum managed a slight positive move yesterday, pushing its market value back above $2,700. Amid this price move, questions have been raised about whether the asset might be quietly building momentum for a sudden rally. Quiet Moves Behind The Scenes Santiment, a well-regarded market intelligence platform has recently highlighted this price performance from ETH on X, noting that Ethereum has outpaced many altcoins at the start of the week. This performance as reported by Santiment may be attributed to the ongoing trend of ETH moving from exchanges into cold wallets at an accelerating rate. Ethereum sees a dropping exchange supply and increased crowd attention. | Source: Sentiment on XIn fact, only 6.38% of the available supply remains on exchanges, the lowest figure since Ethereum’s inception, according to Santiment. Santiment also revealed that renewed interest from the ETH community appears to be another factor behind this momentum. 📈 Ethereum has shown mild signs of a rebound, currently back up to a market value of $2,745 and outpacing most altcoins to start the week. From a long-term perspective, ETH continues to move off of exchanges and into cold wallets at a shocking pace, with just 6.38% of the… pic.twitter.com/4MTJgpOLDT — Santiment (@santimentfeed) February 17, 2025 Having underperformed compared to other large-cap assets throughout 2024, Ethereum is now drawing attention as market participants begin anticipating a rebound when broader market conditions improve. Santiment’s analysis points to these movements as early indicators that Ethereum may be positioned for more sustained growth in the coming months. A Potential Upside for Ethereum and Altcoins Looking ahead, various market analysts have shared optimistic outlooks for Ethereum’s performance. Javon Marks, for example, sees ETH emerging from a lengthy consolidation phase. According to Marks, the asset could potentially recover over 72% from its current levels, returning to its all-time high zones. Such a move might also spark significant bullish momentum for other altcoins, further enhancing Ethereum’s role as an altcoin market leader. Coming out of what may have only been a massive bottoming/consolidation, $ETH could be setting up here for an over +72.1% surge in a recovery back to its ATH areas! Ethereum could still have a major upside coming, and this could also aid alts into significant bull moves as well. https://t.co/yKb13rWh99 pic.twitter.com/6fLTjolHQ0 — JAVON⚡️MARKS (@JavonTM1) February 17, 2025 Another perspective comes from crypto analyst Ali, who identified a crucial support level at $2,425. This level is noteworthy as it represents the accumulation zone for 10.33 million wallets holding a total of 62.43 million ETH. ETH price is moving downwards on the 2-hour chart. Source: ETH/USDT on TradingView.comFeatured image created with DALL-E, Chart from TradingView Samuel Edyme Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics. When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.” PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. 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