{"id":3090,"date":"2025-02-23T05:11:06","date_gmt":"2025-02-23T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-price-could-still-reclaim-4000-based-on-this-bullish-divergence\/"},"modified":"2025-02-23T05:11:06","modified_gmt":"2025-02-23T05:11:06","slug":"ethereum-price-could-still-reclaim-4000-based-on-this-bullish-divergence","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-price-could-still-reclaim-4000-based-on-this-bullish-divergence\/","title":{"rendered":"Ethereum Price Could Still Reclaim $4,000 Based On This Bullish Divergence"},"content":{"rendered":"

The Ethereum price appeared to be finally gearing for a strong bullish breakout after multiple weeks of disappointing and sluggish action. However, this bullish dream ended almost immediately after it started as nearly $1.5 billion worth of ETH tokens were drained from the ByBit exchange.<\/p>\n

Ethereum, which traded as high as $2,840 earlier on Friday, February 21, dropped towards $2,600 on the back of news of the ByBit hack. Interestingly, recent on-chain data suggests that the altcoin\u2019s price could still make its way to $4,000 before the end of this cycle.<\/p>\n

Could ETH Price Still Record A 60% Rally This Cycle?<\/strong><\/h2>\n

In a Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Crypto Sunmoon identified<\/a> a particular bullish divergence that offers insight into the Ethereum price performance in the near future. This bullish observation is based on recent movements of ETH\u2019s \u201ctaker buy\/sell ratio\u201d across all exchanges.<\/p>\n

This metric measures the taker buy and taker sell volumes for a specific cryptocurrency (Ethereum, in this case). When the taker buy\/sell ratio is greater than one, it implies that the taker buy volume is higher than the taker sell volume. This is typically considered a bullish signal, indicating the willingness of investors to pay a higher price for an asset.<\/p>\n

On the contrary, a less-than-one taker buy\/sell ratio indicates that sellers are overwhelming the buyers in the market. This scenario suggests that more sellers are willing to offload their assets at a lower price, signaling a bearish shift in investor sentiment.<\/p>\n

\"Ethereum<\/p>\n

Crypto Sunmoon noted that the 100-day exponential moving average (EMA) of the Ethereum taker buy\/sell ratio on all exchanges has been rising in recent weeks. The Ethereum price, on the other hand, has been declining since mid-December.<\/p>\n

According to the analyst, this divergence is positive, as it indicates that a bearish trend has ended and an upward trend could be starting. The last time this bullish divergence occurred, the Ethereum price traveled from beneath $2,500 to above $4,000 (over 60% rally).<\/p>\n

While investors would view a reclaim of $3,000 as a victory for Ethereum, history and this bullish divergence suggest that the altcoin’s price could still climb toward the $4,000 mark before the end of the current cycle.<\/p>\n

Ethereum Price At A Glance<\/strong><\/h2>\n

As of this writing, the price of Ethereum stands around $2,650, reflecting a nearly 4% decline in the past 24 hours.<\/p>\n

\"Ethereum<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum price appeared to be finally gearing for a strong bullish breakout after multiple weeks of disappointing and sluggish action. However, this bullish dream ended almost immediately after it started as nearly $1.5 billion worth of ETH tokens were drained from the ByBit exchange. Ethereum, which traded as high as $2,840 earlier on Friday,…<\/p>\n","protected":false},"author":1,"featured_media":3091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[263,138,102,233,1363,105,1781],"class_list":["post-3090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-cryptoquant","tag-eth","tag-ethereum","tag-ethereum-price","tag-ethereum-taker-buy-sell-ratio","tag-ethusdt","tag-taker-buy-sell-ratio"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3090"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3091"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}