ETH is on the Verge of a MASSIVE Comeback… But Will It Happen?

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ETH is on the Verge of a MASSIVE Comeback… But Will It Happen?

ETH is on the Verge of a MASSIVE Comeback… But Will It Happen?

Oh honey, Ether needs to get its act together and reclaim the “macro” range above $2,200, or else it’s just going to be another day, another dollar, another 51% decline in value 🤑. And don’t even get me started on the global macroeconomic concerns – it’s like, can’t we all just get along and have a nice cup of tea? 🍵

Ether’s price is down in the dumps, folks, after peaking above $4,100 on Dec. 16, 2024. TradingView data shows that it’s been a wild ride, and I’m not sure who’s more exhausted, the market or me 🤯.

Rekt Capital, the popular crypto analyst (and my spirit animal), thinks that if Ether can muster up enough strength, it might just be able to reclaim the “macro range” above $2,200. But let’s be real, it’s like trying to get a cat to take a bath – it’s not going to happen easily 🐈.

“If price can generate a strong enough reaction here, then #ETH will be able to reclaim the $2,196-$3,900 Macro Range (black).”

But wait, there’s more! Ether’s open interest has surged to a new all-time high, which means that large traders are positioning for a rally above $2,400. Because, you know, that’s exactly what we all need – a bunch of whales swimming around, making the market go up and down like a rollercoaster 🎠.

And don’t even get me started on the regulatory developments – it’s like, can’t we just have a nice, stable market for once? 🙄 Some analysts expect traditional and cryptocurrency markets to be pressured by global trade war concerns until at least the beginning of April, when countries may find a resolution to the retaliatory tariffs. Because, you know, that’s not a thing that’s going to happen anytime soon 🤦‍♀️.

ETH whales only ones buying: Nansen analyst

While some crypto traders often blame large investors, or whales, for market downturns, these participants are simply “playing the market in any direction,” according to Nicolai Sondergaard, a research analyst at Nansen. Because, you know, it’s not like they’re just trying to manipulate the market or anything 🙄.

The analyst said during CryptoMoon’s Chainreaction daily X show on March 21:

“The ETH whales in the 10k to 100k have actually been accumulating ETH, whereas everyone else has been dumping.”

The number of addresses with at least $100,000 worth of Ether started rising at the beginning of March, from just over 70,000 addresses on March 10 to over 75,000 on March 22, Glassnode data shows. Because, you know, it’s not like that’s a sign of anything significant or anything 🤔.

In comparison, there were over 146,000 wallets with over $100,000 in ETH balance on Dec. 8, when Ether’s price was trading above $4,000. Because, you know, that’s not a thing that’s going to happen again anytime soon 🙄.

Despite the potential for short-term volatility, investors remain optimistic for the rest of 2025, VanEck predicted a $6,000 cycle top for Ether’s price and a $180,000 Bitcoin (BTC) price during 2025. Because, you know, that’s not a pipe dream at all 🤑.

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2025-03-23 16:45