Ethereum’s price is showing positive momentum after whales accumulated $435 million worth of ETH in 24 hours. This trend may indicate a potential rally towards $5,000 if demand continues, though retail investors might take profits.
Recent whale activity includes a significant purchase of 60,000 ETH valued at approximately $284.76 million.
Ethereum’s Taker Buy Sell Ratio increased from 0.92 to 1.05, signaling more buying than selling.
Exchange Netflows for ETH have turned positive, indicating an uptick in selling pressure from retail investors.
Ethereum price analysis: Stay informed with the latest updates on ETH’s movements and trading patterns to make informed investment decisions.
What is the recent trend in Ethereum’s price?
The recent trend in Ethereum’s price, currently trading around $4,646, indicates a bullish momentum bolstered by significant whale purchases. These developments may shape the future trajectory of ETH, potentially leading it toward the $5,000 mark.
How have whales impacted Ethereum’s market?
Whales have significantly influenced Ethereum’s market, recently accumulating large amounts. For instance, according to Arkham Intelligence, three whales purchased $435 million in ETH over a 24-hour period, with one whale acquiring 60,000 ETH worth approximately $284.76 million from Coinbase Prime.
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Three Ethereum whales have accumulated a total of $435 million worth of ETH recently, suggesting increased confidence in Ethereum’s future price appreciation.
Positive Exchange Netflow indicates that more Ethereum is entering exchanges than leaving, which often signals increased selling pressure from retail investors.
Ethereum’s recent price movements reveal a complex interaction between whale accumulation and retail selling. As whales continue to buy, there’s the potential for a bullish rally that could see ETH reclaiming its all-time high of $4,891 and targeting $5,000. However, ongoing retail profit-taking poses risks to this uptrend.
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Source: https://en.coinotag.com/ethereum-whales-accumulate-435-million-in-eth-potential-price-rally-toward-5k-amid-retail-profit-taking-concerns/