Ether (ETH) is showing signs of a potential rally, with prices climbing above $2,150 and targeting a retest of $2,500. This upward momentum is bolstered by strong spot and futures market volumes, indicating a shift in market sentiment. The altcoin is currently in a rare undervaluation zone, as highlighted by the Capriole Macro Index Oscillator, which suggests that selling pressure is waning and accumulation is beginning.
The recent price action reflects a robust bullish structure, with ETH’s daily chart revealing higher lows and increasing spot demand. Key resistance levels near $2,385 and a fair-value gap between $2,475 and $2,635 are now in focus. Moreover, the positive funding rate and stable open interest signal a long bias among traders, although a more significant breakout may require increased futures positioning.
Market professionals should monitor ETH closely, as reclaiming the $2,400–$2,500 range could confirm a shift toward a more bullish trend, while the current undervaluation suggests limited downside risk.
Source: cointelegraph.com