price crossed theFurthering this notion was Ethereum’s price action, which rose by more than 8% in the last seven days, according toAt the time of writing, ETH was trading just below the $4k mark at $3,987.46 with a market capitalization of over $4789 billion.on TradingView, revealing that the number of ETH short-term holders was increasing.
The last time the metric reached that level, it was followed by a further price rally, allowing ETH to reach an all-time high. If history repeats itself, then this just might be the beginning of ETH’s bull rally.Since the aforementioned analysis looked bullish, AMBCrypto took a look at ETH’s metrics to understand whether the uptrend would last.
Whenever the metric drops, it means that an asset is undervalued, hinting that the chances of a price increase are high.revealed that ETH’s net deposit on exchanges was low compared to the last seven-day average. This was bullish, as it indicated less selling pressure on the token.
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