Etherium shows strength at the historical CME gap support. Bullish structure is retained, and price is driven above $3,000 by heavy accumulation of whales.
Ethereum is on a bullish trend after establishing its stance at a critical price point. The asset was priced above $3,000 in spite of volatility in recent times. Past CME gaps now demand dynamically active zones.
Rekt Capital on X states that ETH is priced strongly at this demand area. The upward movement in its last surge was made possible by the cryptocurrency. A close above the CME gap top per week may indicate continuation of the trend.
Source : Rekt Capital
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Whales Fuel the Fire
Big whales recently opened big long positions. Ted Pillows recorded on X that the accumulation was strong above the 3000 level. These massive holders propelled the new price movement upward. The CME gap bounce coincided with the whale action.
Source: Ted Pillows
The design of Ethereum resembles the earlier bullish phases. Historical charts indicate similar retests of gaps with green circles. New support was affirmed before proceeding each time. The trend is an indicator of strength in the future in case history repeats.
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Tom Lee Destroys Old Thinking
Tom Lee cautions critics to commit a classical error. Lee likened Ethereum doubters to 2007 Facebook doubters, according to CryptosR_Us on X. Critics claimed that without direct monetization, mobile was meaningless. They lost network effects and scale potential.
Source:CryptosR_Us
Lee believes that Ethereum is heading in the same direction. Layer 2 solutions take time to develop. Stablecoins have to scale through the ecosystem. The network is made the norm first.
The maximization of fees is subsequently in the playbook. The short-term revenue is secondary to the early dominance. Optimization starts after the ecosystem has been expanded. Dynamic system evolution is lacking in static thinking.
What the Charts Reveal
The CME gap is below the existing prices. Support stood strong in recent tests. Bulls guarded the area with determination. The underlying strength of demand is indicated by price action.
Continuation would be confirmed by a weekly close above resistance. The blueprint is depicted in previous green circle patterns. There were successful retests followed by major rallies. The technical arrangement is bullish at the moment.
The scaling of Ethereum infrastructure persists under price action. Layer 2 networks increase the transaction capacity. There is an increase in the adoption of stablecoins on various chains. The foundation builds as opponents pay attention to charges.
