Ethereum prices bounced back this week as investors bought a dip, and terror and desire indicators ended the fear zone.
Ethereum (Eth) rose to $1,800, up 30% from this year’s lowest level. The rebound, which coincided with other cryptocurrencies, pushed its market capitalization to nearly $220 billion.
There are indications that crypto investors have missed out on and accept the fear of FOMO. The Crypto Fear and greedy index jumped to a neutral point of $53 from today’s extreme fear zone 18. As the trend grows steam, you quickly enter the greedy zone.
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Additionally, Wall Street investors continue to be interested in Ethereum against the worrying trend. All Spot ETH ETF net inflows were over $157 million, making its best performance since February. They had net spills in the past consecutive weeks, and the longest winning streak since approval.
Ethereum had other positive metrics this week. For example, the Dex protocol in the network handled more than $11.5 billion, bringing its 30-day volume to $57 billion. The 24-hour volume rose to $1.7 billion, with Uniswap, Curve Finance, Fluid and Maverick protocols taking the largest market share.
Ethereum prices could be on track in the coming days as investors target psychological points for $2,000. The risk to this outlook is the sharp decline in permanent futures funding rates. This is an indication that short sellers are paying buyers fees to keep the deals up.
Ethereum price technology analysis
ETH Price Chart | Source: crypto.news
Daily charts show that ETH prices have rebounded over the past few days. It jumped and crossed the top of the falling wedge chart pattern, a popular bullish inversion sign.
The coin slightly surpassed the 50-day weighted moving average and formed a small bullish flag pattern, a sign of bullish continuation that is popular in the market.
So, the coin could continue to rise as the Bulls target psychological points for $2,000. A complete bullish breakout is confirmed as the coin exceeds the $2,120 key resistance, the triple bottom pattern neckline formed on the weekly chart.
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