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Ethereum price gears up for explosive rally as buying activity accelerates

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FX Street

Wed, Jan 12, 2022

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Aliens TLDR

Ethereum buying activity has accelerated significantly over the past hour, coinciding with a spike in the price of the altcoin.

Analysts predict Ethereum price is likely to continue its bounce.

There is a significant spike in buying activity as traders accumulate Ethereum.

Buying activity has accelerated in the Ethereum network.

As buying activity accelerated, over 16,000 Ethereum tokens were bought within 60 minutes earlier today.

Despite the recent correction in Ethereum price, the altcoin’s price is holding well.

Proponents believe that Ethereum price still outperforms Bitcoin since the asset hit its May 2021 top.

Mark Cullen, analyst at AlphaBTC notes that Ethereum price has retested its lower mid range and the 61.8 golden zone.

-- — AlphaBTC (@mark_cullen) $ETH UPDATE -- #Ethereum retested the lower mid range & also the 61.8 golden zone Looking for a push to the 21 Daily EMA and medium of the larger range The running flat minimum extension in wave C has been meet #cryptocurrency https://t.co/xlq8B9PfWs pic.twitter.com/WjbXaD2hq4 January 11, 2022 @ShardiB2, a crypto analyst and trader believes that Ethereum is totally oversold and there may be a reversal.

pic.twitter.com/z7rUaeQkQa January 11, 2022 FXStreet analysts believe that Ethereum price could rebound towards $4,000 in the current uptrend.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

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