While mixed signals from various metrics cast uncertainty on the potential for a rally, technical patterns point to an upswing.Ethereum However, further analysis suggested that this downturn may be short-lived, as U.S. investors seemed ready to drive ETH prices higher.Recent data from Crypto Quant’s Coinbase Premium Index for Ethereum, which gauges the price differential between Ethereum on U.S.-based Coinbase Pro and global exchange, signals heightened interest from U.S.
Further investigation by AMBCrypto revealed that while the potential for a rally is backed by U.S. investors, sentiment within other sectors remains divided.While some retailers remain enthusiastic about Ethereum, indicators provide mixed signals about its future price trajectory.Specifically, the past few days have seen an 18.34% increase in new addresses and an 11.61% rise in active addresses, suggesting a high engagement with Ethereum.
If this bearish outlook persists, it could hinder Ethereum’s potential to rally, despite significant interest from U.S. investors and positive growth in address statistics.ETH has recently broken down from a consolidation phase, a period typically marked by significant accumulation by whales in anticipation of a rally. This downturn can be attributed to a stop hunt.