Ethereum continues to show a steady rise, remaining above $3,000. On-chain data analysis indicates active accumulation by large holders, signaling further strengthening positions in the market.
FOMC Volatility and Ethereum's Recovery
In recent months, Ethereum has shown significant recovery patterns following volatility caused by FOMC announcements. The Net Realized Profit/Loss (NPL) indicator reveals meaningful price reversals during these periods.
Whale Activity
According to the NPL indicator, significant accumulation events occurred on January 13 and January 27. While whale responses on January 13 were mild, a marked increase in transactions exceeding $100,000 was observed from January 27 onward.
Potential for Growth
Recent Ethereum price movements indicate potential growth. If the positive technical state persists, a key target of $4,000 becomes attainable. Currently, ETH trades at $3,265, marking a 7% increase in the last 24 hours.
The current whale activity and market indicators suggest a continued upward trend. Ongoing accumulation by large holders may drive Ethereum prices toward significant resistance levels.
