Ethereum Price Prediction — ETH Eyes $4,200 Recovery as Fear Index Drops to 32
The post Ethereum Price Prediction — ETH Eyes $4,200 Recovery as Fear Index Drops to 32 appeared on BitcoinEthereumNews.com.
Ethereum (ETH) is regaining market confidence with the crypto Fear and Greed Index falling to 32, indicating that investors are overcoming recent fear. The second-largest asset in the world digitally is consolidating around $3,850 following weeks of lateral movement. Traders are looking at a possible recovery to $4,200 should the momentum continue to improve. As institutional flows re-enter the market and whales accumulate, optimism is slowly rebounding throughout the market. Early-stage tokens such as MAGACOIN FINANCE are being eyed by investors as the next big thing. Wyckoff Pattern Hints at Renewed Accumulation According to market analysts, Ethereum develops a Wyckoff-style re-accumulation pattern. Crypto analyst Ash Crypto reported that ‘’ETH is moving toward the markup phase.’’ In the three-day chart, Ethereum has developed structural bases around $3,700 and $3,800, just like previous breakout patterns. The Wyckoff model postulates that large traders are gearing towards a rise in prices during low volatility. Source:X This narrative is backed by institutional data. Recent on-chain activity indicated an 8,491 ETH withdrawal (=$32 million) of OKX by a whale wallet, which is usually viewed as accumulation. The drop in exchange reserves would reduce supply pressure, which would provide a good chance of a rise above $4,000 and potentially $4,200 in the short term. Technical Setup and ETF Flows Support Upside Outlook The price structure of Ethereum resists the weak pullbacks. A possible triple bottom pattern of between $3,700 and $3,800 enhances the recovery technical argument. An established breakout of the price above $4,000 would open the next resistance zone at $4,200. In the meantime, institutional exposure is growing with the ETH ETFs. BlackRock, Fidelity and Grayscale recorded mixed flows this week, but cumulative inflows remained positive. According to Fundstrat Tom Lee, “Ethereum is among the best-placed digital assets for the next leg of the cycle.” There…
