Ethereum: Can bulls help ETH break THIS price for a 23% rally

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ETH: The Bullish Comedy Show You Can’t Miss! 🎭💰

  • Hold onto your wallets, folks! Buying volume in the derivatives market has skyrocketed to its highest point of the year! 🚀
  • According to the crystal ball (a.k.a. the technical chart), Ethereum could hit the $3,440 level if the buying momentum keeps up. Who knew bulls could dance? 💃🐂

Ethereum’s current price of $2,732 is like a sad clown after a month-long decline of 16.15%. The bears are throwing a party, but wait! 🎉

Just when you thought it was all over, ETH closed last week with a 2.08% gain! Talk about a plot twist! 🎬

The surge in buying volume and the technical pattern on the chart could be the secret sauce for ETH to reach new heights. Or at least a new punchline! 🍔

Buying volume reaches a new high—like my cholesterol! 🍕

At the time of writing, the Taker Buy Sell Ratio—a fancy way to measure market sentiment—shows buyers are in control. It’s like a game of tug-of-war, and guess who’s winning? 🏆

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This ratio has hit its highest point of the year at 1.13! Buyers are more aggressive than a toddler in a candy store! 🍭

The Funding Rate, another key metric, is currently at 0.0050%. This means the longs are paying the premium to keep their positions. It’s like paying extra for a front-row seat at a bad comedy show! 🎤

This confidence, as AMBCrypto points out, could lead to a major price swing for ETH, potentially pushing it to the $3,440 level. Just don’t forget to bring popcorn! 🍿

Is a major rally in sight for ETH? Or just a mirage? 🌵

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On the chart, ETH is approaching the upper resistance level of the symmetrical channel. It’s like a game of limbo—how low can you go? 🎶

If the price breaks through this level, it could kick off a series of rallies. But beware! If ETH breaks through, it’ll face another resistance at $2,798.34. It’s like hitting a brick wall! 🧱

If buying momentum stays strong, ETH could soar to $3,442—a 23.06% rally! Or it might just sit there, contemplating its life choices. 🤔

Otherwise, ETH may continue to consolidate within the symmetrical triangle, like a cat stuck in a box, waiting for its next breakout attempt. 🐱📦

Liquidity flow surges—like my excitement for pizza! 🍕

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According to Artemis, Chain Netflow—a metric for assessing liquidity—shows a massive surge in Ethereum liquidity. It’s like a flood of cash! 💸

Over the past week, total Netflow stands at $100.7 million! More inflows than outflows—like a one-sided game of Monopoly! 🎲

The key takeaway? Market sentiment is bullish, making a major rally just a matter of time. Or a really good joke! 😂

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2025-02-21 05:14