As Ethereum ETH hovers around $2,458.51, an analysis of address profitability reveals that a significant majority of holders are in the money.
Currently, there are approximately 59.08 million ETH held by addresses in profit, accounting for around 79.92% of total addresses. Conversely, about 14.62 million ETH addresses are facing losses, representing 19.77% of the total. Additionally, 225,650 ETH addresses are at breakeven, which is a mere 0.31% of all addresses.
These figures indicate that most Ethereum investors are enjoying profitability at present price levels.
However, caution is advised as these profit zones may create short-term selling pressure, particularly around current price levels.
Resistance is anticipated in the $2,459 to $2,531 range, while strong support has been identified in the $2,087 to $2,311 bracket.
#ETH GENİŞLETİLMİŞ ANALİZ#Ethereum’un (ETH) belirli fiyat aralıklarında kârlılık durumunu inceleyen “In/Out of the Money Around Price” grafiğine odaklanacağız. Grafikte mevcut fiyat seviyesi olan $2,458.51’e yakın fiyat aralıklarında ETH sahibi olan adreslerin kârlılık ve zarar… pic.twitter.com/pzVg35aI01
— Baykuş (@KriptoBaykusV2) November 4, 2024
Despite the generally positive sentiment suggested by the high percentage of profitable addresses, market participants should be vigilant for profit realizations at these key resistance levels.
Short-term traders may capitalize on these fluctuations, while long-term holders might consider using this data to enhance their portfolios.
This Whale Bought 5,000 ETH
In a noteworthy move, a whale who previously acquired 5,000 ETH at an average price of $1,800 is suspected of liquidating their position to secure profits. This whale deposited all their tokens into Binance at $2,478, potentially netting a profit of approximately $3.387 million upon sale.
2023.05 以均价 $1800 建仓 5000 枚 $ETH 的巨鲸疑似清仓止盈🤑
四小时前他已将所有代币充值进 #Binance，充值价格 $2478，若全部卖出将获利 338.7 万美金
钱包地址 https://t.co/hpdhfTZg1S pic.twitter.com/yDnjfrzEcA
— Ai 姨 (@ai_9684xtpa) November 4, 2024
Additionally, the Ethereum spot ETF witnessed a net inflow of $13 million from October 28 to November 1, signaling robust investor interest. As the market evolves, close monitoring of these support and resistance levels will be crucial for both short-term and long-term investors in Ethereum.
Last week, from October 28 to November 1, Bitcoin spot ETF had a net inflow of $2.22 billion, the third largest weekly net inflow in history. BlackRock ETF IBIT had a weekly net inflow of $2.15 billion. Ethereum spot ETF had a net inflow of $13 million last week.… pic.twitter.com/N9xBIRI0bk
— Wu Blockchain (@WuBlockchain) November 4, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/ethereums-profitability-landscape-analyzing-current-address-performance-at-2458-51/