Ethereum’s Big Gamble: Is it Heading to the Moon or Just Taking a Detour?

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TL;DR

  • Some folks on X are whispering sweet nothings about Ethereum‘s future, pointing to technical patterns and activity spikes as signs of a potential rally. Fingers crossed, right?
  • But don’t pop the champagne just yet! Ethereum’s rising RSI, weak ETF inflows, and mysterious short-term selling pressure could rain on this parade.

Ethereum Image

So, What’s the Crystal Ball Saying?

Ethereum (ETH) has been showing off a bit lately, flexing a 10% price increase in the past week. On April 23, it briefly flirted with the $1,800 mark before falling back to the comfy $1,750 zone. Classic crypto move—peak, then dip.

ETH Price Chart

Some overly optimistic market experts think ETH still has its best moves ahead. Ted, a user on X (because that’s where all the fun happens), noticed Ethereum’s active addresses grew by 10% in just 48 hours. Yep, you heard that right. So, of course, Ted’s convinced ETH is ready for its “epic revenge rally.” (Because nothing says “revenge” like a crypto rebound.)

Then there’s Christiaan, the crypto trader on X, who’s casually suggesting Ethereum could blast past $2,000. Ah, to dream… and dream big.

And then there’s Gert van Lagen, who’s basically wearing rose-colored glasses. He claims Ethereum’s “huge 4-year inverse head and shoulder” pattern is in play, which might mean ETH is ready to make a heroic jump to $20,000. No big deal, right? Just a tiny leap for Ethereum, a giant leap for crypto kind.

“Loads of retail have been shaken out the Right Shoulder,” Gert wisely added, because why not?

Let’s Take a Sneak Peek at Some Indicators, Shall We?

Hold on there, cowboy. Before you start buying ETH like it’s going out of style, let’s take a reality check.

For starters, ETH’s exchange netflow has been positive recently, indicating that more people are moving their coins to centralized exchanges. Translation: More selling could be in the cards in the short term. Yikes.

Next up: ETH ETF inflows. Data from SoSoValue shows that the recent inflows into spot ETH ETFs are barely above zero. There was one glorious green candle on April 22 (cue the applause), but in the grand scheme of things, more money has been pulled out than put in. Institutional investors are clearly playing hard to get.

And let’s not forget the RSI (Relative Strength Index). Currently hovering around 65, this metric is waving a red flag. Anything above 70 is considered “overbought,” so ETH might be getting a little too cocky, and a price correction could be on the horizon. Keep your seatbelts fastened, folks.

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2025-04-24 21:48