Financial analyst Mike Zaccardi intends to repurchase Ethereum (ETH) this week, citing signs of market stabilization. Zaccardi, who previously sold part of his ETH holdings via ETF in November for tax purposes, observes technical indicators suggesting the recent market correction may be concluding. ETH has recently tested the $2,600 level, a long-term support identified by Zaccardi, after falling from the critical $4,100 support.
Despite the recent downturn, Zaccardi remains optimistic about Ethereum's prospects, noting its relative strength compared to Bitcoin and potential seasonal gains from December to May. He also points to a breakout in the Relative Strength Index (RSI) as a bullish signal for ETH's price trajectory.
Mike Zaccardi Plans to Rebuy Ethereum Amid Market Stabilization
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