Connect with us
DAPA Banner

Crypto World

Can Ethereum price rally past $2,400 as bullish metrics emerge?

Published

on

Ethereum balance on exchanges has dropped to an all-time low.

Ethereum price has formed a strong support at $2,100 as whales continue accumulating the asset. Now, a bullish pattern on charts hints at more potential upside over the coming sessions.

Summary

  • Ethereum held firm above the $2,100 support as whales accumulated over 750,000 ETH in the past 48 hours, signaling sustained buying interest.
  • The asset rebounded more than 3% as improved risk sentiment followed U.S.-led ceasefire efforts, with crude oil prices slipping below $90.
  • A cup and handle pattern has formed on the daily chart, with a breakout above $2,384 potentially opening the path toward the $3,000 level.

According to data from crypto.news, Ethereum bulls managed to fend off a drop below the 100 support amidst some market correction on Sunday, arising from broader macroeconomic uncertainty.

The largest altcoin subsequently rallied over 3% to $2,170 as investor risk sentiment improved after the U.S. attempted to negotiate a temporary ceasefire with Iran through diplomatic channels, which saw crude oil slide back under $90.

Advertisement

Ethereum (ETH) price rebounded amid whale accumulation, which often sparks retail FOMO, who follow the smart money. Data from Santiment shows that whale wallets holding between 100 and 100,000 ETH bought over 750,000 ETH over the past 48 hours.

It also follows as Ethereum treasury company Bitmine continues to aggressively purchase more ETH as it nears its goal of owning at least 5% of the ETH supply, as earlier reported by crypto.news.

Another potential catalyst is the supply crunch. Notably, Ethereum exchange reserves have fallen to an all-time low of nearly 15 million. Depleting exchange reserves means investors could be moving assets to cold storage or staking them to earn passive rewards. Investors often see this as an incredibly bullish signal.

Advertisement
Ethereum balance on exchanges has dropped to an all-time low.
Ethereum balance on exchanges has dropped to an all-time low | Source: CryptoQuant

The Ethereum Foundation, the non-profit dedicated to the ecosystem, is also working to mitigate threats posed by quantum computing. Reports indicate that the new roadmap aims to transition the network to quantum-safe cryptography for centuries of security.

On the daily chart, Ethereum price has formed a giant cup and handle pattern, a popular bullish continuation pattern in technical analysis. A break above the neckline of the pattern confirms the setup, usually resulting in sustained upside over the following sessions.

Ethereum price has formed a cup and handle pattern on the daily chart.
Ethereum price has formed a cup and handle pattern on the daily chart — March 25 | Source: crypto.news

In Ethereum’s case, the neckline of the pattern lies at $2,384. If bulls manage to breach through this level, ETH price could swing above $2,400 and much higher towards the psychological $3,000 mark as the measured move targets become active.

Technical indicators seem to suggest bulls still have plenty of gas in the tank. The Supertrend indicator has flashed green, a sign that the prevailing momentum has shifted in favor of the buyers, while the RSI has rebounded from neutral territory to suggest that there is still significant room for growth before the asset becomes overbought.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Advertisement

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

Published

on

Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

Advertisement

“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

Follow us on X to get the latest news as it happens

Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

Advertisement

“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

Advertisement

Source link

Continue Reading

Crypto World

Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Published

on

Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

Advertisement

Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

Advertisement

This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

Advertisement

It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?