The price of Ethereum has shown a 50% increase over the past month, raising interest in a potential rise to the $4,000 level. This growth is accompanied by improving market conditions and an increase in institutional investments.
Growing Interest in Ethereum
Recent market analysis shows that ETH, after price increases, remains 23% below its all-time high recorded in November 2021. This leaves room for further growth, especially if investors begin to shift their focus from Bitcoin to altcoins.
Data on Major Ethereum Purchases
According to Glassnode data, over the past month, 170 new wallets with more than 10,000 ETH have entered the Ethereum network. This indicates growing interest from institutional investors and high-net-worth individuals. Analyst Ali pointed to a sharp increase in the number of large wallets, which may indicate expected market changes.
Technical Indicators and Price Forecasts
Ethereum's price has hovered around $3,733 over the past 24 hours, showing a 4% increase. Indicators like RSI and MACD suggest a bullish trend; however, existing overbought conditions may slow growth rates. If ETH successfully breaks above resistance, the next target may be $4,200.
In conclusion, the current dynamics of Ethereum and investor interest are forming a favorable context for a potential move toward the $4,000 mark. However, volatility in the crypto market requires careful monitoring of price movements.
