- Whales' Big Bets Amid Price Surge
- Ether Price Dynamics and Whale Activity
- Technical Analysis and Upcoming Levels
In recent days, investors' and traders' interest in Ethereum (ETH) has significantly increased. According to data from the analytics firm Lookonchain, major players are ramping up their ETH positions.
Whales' Big Bets Amid Price Surge
On September 19, 2024, analytics firm Lookonchain reported on X (formerly Twitter) that a whale purchased 2,117.7 ETH worth $5.17 million amid a price surge. Data indicates that the whale had previously liquidated 6,078 ETH worth $14.7 million during the market downturn on August 5, 2024. Over the past six months, the whale went long five times on ETH and liquidated four times, resulting in a loss of over $13 million.
Ether Price Dynamics and Whale Activity
In addition to the recent large purchase, on September 18, 2024, another whale bought 5,660 ETH worth $13.1 million at an average price of $2,316. These data show that major players have started accumulating ETH, indicating a significant rally may be imminent. Currently, ETH is trading near $2,470 and has experienced a price surge of over 6% in the last 24 hours. During the same period, trading volume increased by 16%, indicating higher participation from traders and investors.
Technical Analysis and Upcoming Levels
According to expert technical analysis, despite trading below the 200 EMA (Exponential Moving Average) on a daily timeframe, ETH appears bullish. The primary reason for this optimism is the recent breakout of the strong descending trendline, which ETH has faced since July 2024. However, this breakout will only be confirmed if ETH closes its daily candle above the $2,485 level. If this happens, there is a strong possibility that ETH could soar to the $2,800 level in the coming days.
In summary, current data shows a significant increase in investor interest in Ethereum. It is crucial to monitor if ETH can sustain above key levels to confirm further upward movement.
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