- Ethereum holders were still in the belief phase, suggesting a potential price rally could be on the cards.
- Whale activity and bullish technical patterns hint at a potential further rally.
Ethereum [ETH] was approaching a major resistance level after crossing the 4k milestone.
Ethereum has recently caught attention as it approaches a major resistance level after surpassing the $4,000 milestone.
In the last two bull cycles, Ethereum experienced parabolic price surges when long-term holders transitioned into “greed mode”—a stage where market confidence reaches euphoric levels and profit-taking dominates.
However, the altcoin’s on-chain data suggests that Ethereum holders are currently in the early “belief phase,” indicating that the market could still be gearing up for its next major breakout.
Source: X
The belief phase points to growing confidence among the long-term holders when prices consolidate and show signs of bullish momentum.
Historically, this precedes the greed mode, in which aggressive buying and price rallies push Ethereum to new heights. This early stage presents a prime opportunity to enter the market before the next wave of significant price action.
What do Ethereum’s realized price bands have in store?
Ethereum’s realized price upper band is a critical marker for market behavior. Currently at $5,200, it marked the peak of ETH’s 2021 bull run.
Rising demand for Ethereum, coupled with increased adoption, suggests this upper band could climb higher.
If new buyers continue entering the market, ETH could surpass $5,000 in the coming months. The belief phase aligns with this possibility, as momentum steadily builds.
