Ethereum's recent surge past $3,000 has sparked renewed interest in the cryptocurrency market. Investors continue to hold their assets despite price increase.
Current State of Ethereum
According to analytical platforms, retail investors are predominantly holding onto their ETH stocks, resisting the urge to sell despite the significant price surge. This behavior is observed amid the positive 'Trump Trade' sentiment improving market conditions.
Investor Response to Market Dynamics
CryptoQuant analyst, onatt, indicates that the trend of retaining ETH suggests that many investors still find it undervalued even at its current level. Limited movement of ETH to exchanges like Binance and OKX signals traders' reluctance to sell their assets.
Long-Term Forecasts for Ethereum
SOPR data shows that most Ethereum transactions occur near breakeven, indicating minimal profit-taking. The analyst predicts that holding above the $2,800 level might catalyze a swift advance toward $4,000.
The current ETH price of $3,100 represents a 36.4% decline from its 2021 peak. Despite this, experts see today's market price as a strategic buying opportunity, forecasting further growth to $10,000-$13,000.
