Whales Increase Ethereum Holdings as Price Surges 13%
On April 23, Ethereum recorded a 13% increase, trading around $1,787 with a 24-hour trading volume rise of 73%. This surge is attributed to increased whale activity, including a large investor who lost $40 million on April 9, returning to accumulate ETH.
- A whale borrowed 34.75 million USDT on Aave to buy 19,973 ETH at $1,740.
- Another whale purchased 2,568 ETH for approximately $4.61 million at $1,794.
- A separate address withdrew 5,531 ETH worth nearly $9.8 million from Binance, indicating long-term holding intentions.
- Spot Ether ETFs saw a net inflow of $38.74 million, ending a 10-day streak of flat or negative flows.
- ETH has recently broken out of a downward channel, leading analysts to predict a potential bull rally, with price targets set as high as $2,690.
- Ethereum's dominance dropped to 7%, but has since rebounded, suggesting possible recovery in market position.
- The Relative Strength Index (RSI) is at 54.75, indicating bullish momentum if buying volume remains strong.
- Current price action approaching the upper Bollinger Band suggests potential for further gains or overbought conditions.
The MACD shows a bullish crossover, reinforcing positive sentiment in the ETH market.
ETH price chart | Source: TradingView
ETH price chart | Source: Trading View