Ethereum (ETH) Analysis: Whales' Surge and Price Dynamics
Ethereum (ETH) Analysis: Price Dynamics and Whale Activities
Ethereum price has faced several attempts to break free from the consolidation range it has been stuck in since early August, hovering around $2,700. However, a recent rally sparked by Bitcoin’s price increase could continue if Ethereum’s long-term holders (LTHs) maintain their positions rather than selling. This restraint from LTHs would be key in supporting Ethereum’s potential upward momentum.
Ethereum Whales Are Active
Ethereum whales' activity has surged to a 14-week high, signaling increased interest among large-scale investors. Over the last week, transactions exceeding $1 million have climbed to 8,482 — the highest since August. Alongside this, whale transaction volume surpassed $10.4 billion, highlighting the importance of these large wallet holders. Their actions often have a considerable impact on Ethereum’s price, providing stability and driving momentum.
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