Ethereum Whales Accumulate $140M ETH Amid Strong Market Activity
Ethereum Market Update
- Ethereum (ETH) is testing the $4,600 resistance level, trading at approximately $4,565. Trading volume increased by 16%.
- Whale activities indicate bullish sentiment:
- A whale sold 1,001 ETH and then opened a 15x leveraged long position on 15,023 ETH, suggesting bullish bias.
- Another investor deposited $33 million in USDC to buy 7,311 ETH.
- A third whale withdrew 8,695 ETH from Binance, indicating confidence in Ethereum’s stability.
- This accumulation aligns with Bitcoin's record high of $125,559, leading analysts to expect potential Ethereum growth.
- Analyst Ted highlights strong buy orders between $4,250 and $4,450 as robust support levels.
- If ETH falls below $4,250, the next demand zone is around $4,150.
- Reclaiming $4,650 could lead to a new all-time high for ETH, which is currently 8% below its peak of $4,950.
Technical Indicators
- Bollinger Bands show moderate expansion; price approaches the upper band around $4,747.
- ETH trades slightly above the mid band (20-day SMA) at $4,321, indicating positive short-term momentum.
- RSI remains below overbought territory, suggesting balanced buying pressure with potential for further gains.
- Traders should watch the $4,450 support level to avoid a drop to $4,150 if breached.
