Vitalik Buterin's post on X reading 'Ethereum is Good' could spark a new wave in the price movement of Ethereum which is stalling.
Buterin on X affirmed how he had been urged to focus more on Ethereum’s bullish prospects rather than philosophical topics.
Buterin’s post on X reading ‘Ethereum is Good’, was well-received, boosting optimism among those who were hesitant to invest due to the stagnation in ETH’s price over the past five months. Vitalik’s renewed involvement is expected to influence ETH’s price action, which has been on a downward trend since July 2024 when the daily candle closed at $3,440 price level.
Ethereum, as the leading altcoin, plays a crucial role in this market. The recent breakout in altcoin market cap and its rejection of previous resistance levels suggest a bullish trend could be on the horizon.Vitalik Buterin’s tweet, coupled with these market signals, could mark a shift in sentiment, leading to a rise in ETH’s value.Whale activity on the Ethereum network has also increased. A significant whale has been moving large amounts of ETH to centralized exchanges ahead of price drops.
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