ETH has bounced back from its lows this week, raising hopes of a further rally, but possible investor moves aimed at collecting profits could be an obstacle to its continuation.

At the moment, the price of ETH has reached $3,642, which has caused an increase in activity on the network. However, an analysis of coin movements shows that the current price is higher than the last transaction price, which may indicate possible profit-taking and increased sales.

The trend is accelerating as owners transfer their assets to exchange wallets. In the last ten days, approximately 374,130 ETH were traded, valued at over $1.36 billion, and in the last 24 hours, sales totaled over 52,030 ETH, worth $190 million.

Therefore, if sales rise along with earnings, the rally could end quickly.

On the technical side, Ethereum price has risen above the 50 and 100-day exponential moving averages (EMA), but given the market sentiment, it may decline towards the $3,336 support level corresponding to the 100-day EMA. If this level is passed, the next support will be $3031, corresponding to the 23.6% Fibonacci level.

On the other hand, if ETH continues to rise and maintains its position above the 50% Fibonacci level, the bearish scenario will be canceled. The 61.8% Fibonacci level is often a key support level for a bullish cycle and could trigger a renewed rally. If Ethereum holds above $3,830, it could continue its upward trend.