Ethereum it is holding tight above key support as the smart money moves in, hinting at growing confidence below the surface. With the alignment of bullish signals and stable inflows, the market is now watching to see if this stability can trigger a significant upward move.
ETH coils below $3200 before decisive move
AltCoin Vietnam, in recent publishnoted that ETH is positioned at an extremely tense moment on its chart, signaling that the asset is preparing for a major directional move. This current pressure is fueled by a significant bullish divergence that just appeared on the chart, marking the first time the signal has materialized in over a month.
The analyst reinforced the expectation of high volatility by referring to historical data. Their research shows a consistent history of price volatility of 9-16% whenever ETH drops below the $3,200 level. With the price currently hovering around the $3,100 mark, this historical context provides a clear signal that a sharp burst of volatility may be imminent.
Recent action by market movers adds tremendous credence to the bullish case. AltCoin Việt Nam reported that a super big whale just opened a long leveraged position totaling a whopping $392 million (equivalent to 120,094 ETH). This colossal profit bet shows firm, high conviction among institutional players.
Furthermore, the institutional framework continues to provide reliable underlying demand. The Spot Ethereum ETF market is still actively attracting significant capital inflows, totaling over $250 million this week. BitMine Technologies also bought an additional 33,504 ETH (worth $112 million) today, highlighting the ongoing institutional accumulation.
Given the combination of technical differences, the historical context of volatility, and massive whale buying and institutional buying, the market is facing a tipping point. AltCoin Việt Nam asked the final question: Can ETH make a strong breakout and immediately confirm the uptrend, or will it have to retest lower support levels before triggering the expected explosive growth?
Buyers jump in as Ethereum defends key support
According to to crypto analyst The Boss, ETH showed a very encouraging response from a key technical area. Ethereum reacted positively with the $3091 support zone and is currently holding firmly above this level, a strong signal that short-term buying pressure remains resilient and active in the market.
As long as the price remains above the green line, the analyst confirms that the primary focus remains on the upside, confirming the potential for movement towards the resistance zone marked by the blue line. The boss emphasized the importance of these structural defensive moves, concluding that such strong reactions from established support levels are vital signals to confirm the validity of the current structure and provide a clear direction of the prevailing trend.
About the Author
