Ethereum’s Elegant Return: Are We on the Verge of a $3K Fantasy? 😏

Mercury in Retrograde? No, Just Ethereum Making a Comeback! 🌟

Ethereum hodlers are basking in the comforting glow of profit, raising hopes for a celestial rally to $3,000 and beyond. 🚀
Beware! A lurking sell pressure at $2,800—where 2.27 million ETH could bid adieu—threatens to dampen the party. 🥴

On May 14, Ether soared to $2,700, tickling the heavens above its realized, or as some insufferable analysts call it, “cost basis,” at $1,900. Fancy that! The average investor is now ‘’unrealized in profit,’’ whatever that means, according to the wise oracles at Glassnode. 📈

Ethereum: Dancing above its Cost Basis, Ready for a Serenade of Gains

Data from CryptoMoon Markets Pro and TradingView—because who doesn’t love a good chart—reveals ETH’s dramatic ascent over 52%, landing at a three-month high of $2,700. All this fervor fueled by the pomp and circumstance surrounding the Pectra upgrade. 🎉

This rally has pushed ETH above its cherished realized price ($1,900), paving a golden path to possibly $3,000 or even higher, because why not dream big? 🌠

Glassnode’s sages note that returning to profit after enduring some “unrealized losses” offers much-needed relief—a splendid boost to bullish spirits everywhere. Historically, believers who hold firm during early rally phases become the pied pipers of the market, attracting new fools… er, investors. 🎩

The brave analysis indicates that moving above $2,400 signifies a potent influx of fresh cash, rejuvenating hopes for a retest at $3,000. Well, isn’t that charming? 🤑

Ethereum Price Surge

Among the Temptations: A $2,900 Elephant in the Room 🐘

However, Glassnode’s brainiacs warn us that the Active Realized Price still lounges around $2,900—acting as both a ceiling and a probably stubborn blockade for investor confidence. If Ethereum can’t—or won’t—overcome this, the dream of $4,000 remains just that: a dream. ✨

“The $2,400–$2,900 range remains a crucial area for Ethereum, acting as both a resistance zone and a potential breakout level essential for maintaining upward momentum.”

Trader Daan Crypto Trades, with a flair for the dramatic, insists ETH must “convincingly break” the $2,400–$2,600 barrier before ambitiously aiming for the high heavens between $2,800 and $2,850. Until then, the market’s playing hard to get. 😅

Ethereum Resistance Levels

The Great Sell-Off Specter: 2.27 Million ETH at $2,800 😱

Oh, the drama! About 2.27 million ETH, with an average cost basis of approximately $2,767, are lining up like punctual soldiers at a resistance point. Many may finally decide to cash out at breakeven—killing the momentum like an overenthusiastic party guest. 🥂

ETH Sell-Off

For the brave and handsome technical analysts: Ethereum needs to tame the $3,000 resistance beast to weave its way above $4,000. But first, it must conquer the treacherous range of $2,600 to $2,800, where moving averages silently judge its every move. Once a Trump-induced panic caused a dip below this zone—oh, the memories! 📉

Historical Market Dip

As for those dreamy bulls—risk appetite remains high with spot Ethereum ETFs pulling in a cool $100.7 million in net inflows over three days, proving that even in chaotic times, some are still dreaming of moon landings. 🚀🌙

Meanwhile, the bears are lurking, hoping to pin Ethereum below $2,600—aiming to drag it down to the welcoming arms of $2,400 or even $2,200. Don’t say you weren’t warned: if it slips below $2,000, all gains from the Pectra upgrade could vanish into the ether (pun intended). 💨

2025-05-21 19:07

Ethereum: Dancing above its Cost Basis, Ready for a Serenade of Gains

Among the Temptations: A $2,900 Elephant in the Room 🐘

The Great Sell-Off Specter: 2.27 Million ETH at $2,800 😱

Read More