{"id":54410,"date":"2025-10-23T11:18:48","date_gmt":"2025-10-23T11:18:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=54410"},"modified":"2025-10-23T11:18:48","modified_gmt":"2025-10-23T11:18:48","slug":"ethereum-still-cheap-rainbow-chart-says-the-rally-isnt-over","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=54410","title":{"rendered":"Ethereum Still \u2018Cheap\u2019? Rainbow Chart Says the Rally Isn\u2019t Over"},"content":{"rendered":"<div>\n<p>Ethereum is trading at around $3,900 at press time, posting a slight gain over the last 24 hours. The past week has seen a 3% pullback.<\/p>\n<p>Despite the dip, market watchers say conditions remain favorable, backed by long-term chart structures and exchange activity.<\/p>\n<h2>Ethereum Holds Green Zone in Rainbow Model<\/h2>\n<p>The Ethereum Rainbow Chart, shared by Merlijn The Trader, places ETH in what the model labels as the \u201c<em>Still Cheap<\/em>\u201d zone. This band sits below the historical \u201c<em>HODL<\/em>\u201d and \u201c<em>Take Profit<\/em>\u201d areas, which have marked overheated conditions in previous cycles.<\/p>\n<p>Merlijn <a href=\"https:\/\/x.com\/MerlijnTrader\/status\/1981057972697481260\">wrote<\/a>,<\/p>\n<blockquote>\n<p>\u201cEvery major bottom has the color blue. Every top is red\u2026 Right now? ETH is still in \u2018Still Cheap\u2019 territory.\u201d<\/p>\n<\/blockquote>\n<p>According to the chart\u2019s historical behavior, Ethereum is not showing signs of being overpriced and may have room to advance.<\/p>\n<figure id=\"attachment_1417334\" aria-describedby=\"caption-attachment-1417334\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS.jpeg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-1417334\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS.jpeg\" alt=\"Ethereum (ETH) price chart\" width=\"1200\" height=\"778\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS.jpeg 1200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-300x195.jpeg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-1024x664.jpeg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-768x498.jpeg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-90x58.jpeg 90w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-139x90.jpeg 139w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-1000x648.jpeg 1000w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-900x584.jpeg 900w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-800x519.jpeg 800w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-700x454.jpeg 700w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-600x389.jpeg 600w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-500x324.jpeg 500w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-400x259.jpeg 400w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-200x130.jpeg 200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G32bpPYWMAA3tRS-100x65.jpeg 100w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"><\/a><figcaption id=\"caption-attachment-1417334\" class=\"wp-caption-text\">Source: Merlijn The Trader\/X<\/figcaption><\/figure>\n<h2>Breakout Confirmed After Two Years of Rejections<\/h2>\n<p>Ethereum recently broke above a resistance level that had held since November 2021. After facing multiple rejections in past cycles, ETH closed above the trendline and has since returned to test it from above. That retest has so far acted as support. Said EtherNasyonaL,<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> Retest completed, now It\u2019s time to run.<\/p>\n<p>The downtrend from the November 2021 peak has broken and is in a retest phase.<\/p>\n<p>Ethereum is no longer in a \u201crejection\u201d phase, but in a \u201cretest\u201d phase.<\/p>\n<p>Next page  price discovery. <a href=\"https:\/\/t.co\/utrmUlHHYX\">pic.twitter.com\/utrmUlHHYX<\/a><\/p>\n<p>\u2014 E\u1d1b\u029c\u1d07\u0280N\u1d00\ua731\u028f\u1d0f\u0274\u1d00L <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4b9.png\" alt=\"\ud83d\udcb9\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f9f2.png\" alt=\"\ud83e\uddf2\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@EtherNasyonaL) <a href=\"https:\/\/twitter.com\/EtherNasyonaL\/status\/1980943980008210817?ref_src=twsrc%5Etfw\">October 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The move signals the end of a long consolidation period. If the price holds above the retest zone, the chart points to a possible continuation into higher levels.<\/p>\n<p>Ethereum is trading just below a key level last <a href=\"https:\/\/cryptopotato.com\/eth-price-nears-4k-but-this-metric-signals-a-rally-like-in-2020\/\">reached<\/a> before the 2020 rally. Then, as now, the price stalled at resistance after months of sideways movement.<\/p>\n<h2>Exchange Balances Fall as Supply Drops Off Market<\/h2>\n<p>According to CryptoQuant, ETH reserves held on centralized exchanges have dropped to 15.9 million, down from over 20 million in late 2024. The steady decline reflects movement away from exchanges, often linked to long-term holding, staking, or cold storage.<\/p>\n<figure id=\"attachment_1417333\" aria-describedby=\"caption-attachment-1417333\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-scaled.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1417333\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-scaled.png\" alt=\"Ethereum Exchange Reserve - All Exchanges (3)\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-scaled.png 2560w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-300x169.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1024x576.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-768x432.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1536x864.png 1536w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-2048x1152.png 2048w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-90x51.png 90w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-150x84.png 150w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-2000x1125.png 2000w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1600x900.png 1600w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1400x788.png 1400w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1200x675.png 1200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-1000x563.png 1000w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-900x506.png 900w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-800x450.png 800w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-700x394.png 700w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-600x338.png 600w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-500x281.png 500w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-400x225.png 400w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-200x113.png 200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Ethereum-Exchange-Reserve-All-Exchanges-3-100x56.png 100w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"><\/a><figcaption id=\"caption-attachment-1417333\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p>Despite the supply shift, the price has held near recent highs. This suggests demand remains steady, or that sellers are not active at these levels. Reduced exchange balances have historically appeared during early stages of accumulation phases.<\/p>\n<h2>Short-Term Levels to Watch<\/h2>\n<p>In the shorter time frame, analysts remain cautious. Ali Martinez suggests ETH could move back toward $3,700 if it fails to reclaim higher levels. Resistance remains at $4,100, a zone that multiple traders are tracking for confirmation of bullish continuation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Ethereum <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> looks ready to revisit $3,700! <a href=\"https:\/\/t.co\/0UbJK0uwz7\">pic.twitter.com\/0UbJK0uwz7<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1981075582969663764?ref_src=twsrc%5Etfw\">October 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ted Pillows <a href=\"https:\/\/x.com\/TedPillows\/status\/1981270069973045355\">added<\/a>,<\/p>\n<blockquote>\n<p>\u201cUntil ETH fully reclaims $4,100 level with strong institutional inflow, I think most pumps will be retraced.\u201d<\/p>\n<\/blockquote>\n<p>Lennaert Snyder <a href=\"https:\/\/x.com\/LennaertSnyder\/status\/1981280630114865506\">pointed<\/a> to $3,740 as a recent bounce zone and marked $4,050 as resistance. Short-term moves remain uncertain, but the broader price structure continues to hold.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/ethereum-still-cheap-rainbow-chart-says-the-rally-isnt-over\/\">Ethereum Still \u2018Cheap\u2019? Rainbow Chart Says the Rally Isn\u2019t Over<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is trading at around $3,900 at press time, posting a slight gain over the last 24 hours. The past week has seen a 3% pullback. Despite the dip, market watchers say conditions remain favorable, backed by long-term chart structures and exchange activity. Ethereum Holds Green Zone in Rainbow Model The Ethereum Rainbow Chart, shared [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-54410","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/54410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54410"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/54410\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}