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Ether price rallied 260% last time this happened: Can ETH reach $5K?
Ether traded close to a level that has previously marked market bottoms, as classic chart patterns suggested a possible rally to $5,000. The ETH/USD pair dropped 45% to multimonth lows of $2,621 on Nov. 21 from a high of $4,758 reached on Oct. 7. This drawdown saw the price drop close to the realized price of whales holding more than 100,000 ETH, as shown in the chart below. This refers to the average price that all current holders of more than 100,000 ETH have paid to buy Ether. “Only four times in the last five years has ETH traded very close to the realized price of whales holding at least 100k ETH,” said ... (full story)
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