ETH has seen a jump of 7.8% in the past seven days, and in doing so, reclaimed its December range-lows – A move that signaled a potential extended recovery on the charts. On the 12-hour chart, ETH soared above key moving averages of 20, 50 and 100 days EMA. This could set ETH for an extended recovery on the charts, at least in the short term.
However, ETH seasonality returns also alluded to a positive outlook. Q1 has been the strongest performer, with average gains of 83%. In fact, the On-Chain data revealed that January and March have been the best months of Q1, with 25% and 27% returns, respectively.
If the positive trend continue over the next few days, ETH could climb to $3.8k, $4k, or even higher. However, a bullish outlook would be invalidated if ETH declines below $3.5K. In case of a liquidity sweep-driven rally, $3.8k, $4k, and $3.3k would be the potential targets that could be hit.
The recent ETH breakout could set the stage for massive growth if seasonality trends repeat in 2025. As of now, at the time of writing this article, ETH is being trade around $3,650 and has seen a massive jump in its trading volume with over $17.23 Billion (A jump of over 18%) in its trading volume as per CMC.