According to analysis firm CryptoQuant, there is notable accumulation of Ethereum (ETH) from long-term holders and institutional investors. This accumulation may precede market price changes.
What are Accumulation Addresses?
Accumulation addresses are accounts that steadily receive ETH but rarely send or sell it. These addresses typically belong to long-term holders, institutional investors, or entities using ETH as a reserve asset.
Current Analysis of the ETH Market
Currently, ETH is trading around $2,450. CryptoQuant data shows that there was significant accumulation from long-term investors during June. Analysts assert that increased accumulation volume may signal preceding price rises for ETH. There is now focus on resistance levels around $2,500 to $2,525.
Future Predictions for Ethereum
Factors contributing to renewed investor confidence in ETH include potential increases in institutional demand for the asset. If bulls manage to close above $2,525, the next price target is $2,700. Otherwise, a retracement to support levels around $2,400 and $2,300 may occur.
In summary, the current accumulation of ETH and the activity of institutional investors indicate potential future changes. Analysis of the current situation shows that significant price fluctuations may occur in the market.
