Ethereum flashes a rare buy signal - Is ETH ready to reclaim $2,000?


New smart contract deployment on
Ethereumhas surged 303% compared to the
90-day averagels the Ethereum [ETH] resurgence underway? The leading altcoin's bulls have defended the $1,560 support level twice in June. At the time of writing, the price was at $1,767 and inching toward the psychological $2k mark.
AMBCrypto reported that a whale had taken a $9 million loss after closing a short position on ETH worth $54.1 million. The futures market data showed more active participation from retail traders.
Alongside this potential short-term revival, the monthly chart flashed a buy signal. The last two times this signal appeared, Ethereum rallied 235% and 182%, respectively.
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ETH-0.42%
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TheHotAirBalloonRisesAboveThe
· 2h ago
235% and 182% are bull market cycles. Now, can you imagine this liquidity?
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LateAlphaCourier
· 2h ago
$2000 psychological level is not that easy to break, first see if it can hold at $1800
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MintConditionMax
· 2h ago
Monthly chart showing a buy signal? The previous two times rose 200%+, but this time the macro environment is completely different, cautiously optimistic.
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ColdStartUnderTheAurora
· 2h ago
The 303% growth rate in contract deployment is indeed strong; ecosystem activity is back.
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FeeTakerPhD
· 2h ago
Whale closing short positions does not necessarily mean bullish, it could just be stop-loss, don't overinterpret.
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GateUser-4d2d061e
· 2h ago
The whale cut its losses and exited with 9 million—this script is one I know well. Next, the retail investors are the ones who come in and foot the bill.
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TheProphetOfToast
· 2h ago
The surge in smart contract deployments indicates that builders are quietly working; the price is just lagging behind.
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