Ethereum has recently experienced a significant rebound, reclaiming a previous support level of $3.5k on the charts. This positive price action has sparked speculation about whether the positive seasonality trends in January will extend ETH’s recovery.
The recent rally of Ethereum by 4% on Friday saw the altcoin reclaim its December range-lows, signaling a potential extended recovery. Despite this positive movement, Ethereum’s mindshare dropped to a 12-month low during the holiday sell-offs. However, with the altcoin entering a narrow consolidation above $3,300 in late December, there is optimism surrounding the potential for further recovery.
On the 12-hour chart, Ethereum surged above key moving averages such as the 20-day, 50-day, and 100-day EMA. The breakout pump above $3.6k flipped the market structure bullish, setting the stage for an extended recovery in the short term. The immediate bullish targets for Ethereum are the mid-range of $3.8k and the upper channel of $4k. The RSI and CMF indicators on the 12-hour chart are above key median levels, indicating increased demand and capital inflows.
Looking at historical data, Ethereum’s seasonality returns point to a positive outlook. Q1 has historically been the strongest performer for Ethereum, with average gains of 83%. January and March have been particularly strong months, with returns of 21% and 22% respectively. If this trend continues, Ethereum could see explosive growth in January.
The monthly liquidation heatmap highlights key upside levels for Ethereum at $3.8k, $4k, and $4.1k, with a crucial downside level at $3.3k. In the event of a liquidity sweep-driven rally, these levels could serve as potential targets for Ethereum’s price movement.
In conclusion, the recent breakout for Ethereum could pave the way for extended growth if seasonality trends repeat in 2025. The altcoin may have $3.8k and $4k within reach, but a sharp pullback could find support at the key December level of $3.3k. It’s important to note that the information presented is the writer’s opinion and does not constitute financial, investment, trading, or other types of advice. The Growing Trend of Sustainable Fashion
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