Ethereum is showing strong growth, surpassing the $2700 mark. Key on-chain and technical signals support optimism for further price increases.
ETH Accumulation Among Large Holders
Large Ethereum holders, owning between 10,000 and 100,000 ETH, have significantly increased their positions, indicating confidence in the network's medium-term prospects. These wallets, often linked with institutional and high net worth investors, typically accumulate ahead of major market changes.
Staking Growth After Network Upgrade
The Pectra network upgrade has brought together the Electra and Prague improvements, resulting in a significant increase in staking activity. Staking contracts locking more ETH decrease the circulating supply, creating upward pressure on Ethereum's price.
Technical Indicators Confirm Breakout
From a technical perspective, Ethereum has decisively moved above key moving averages, including the 50, 100, and 200 EMA levels. The high trading volume during this move adds further credibility to the rally.
The rising interest from large holders, increased staking activity, and strong technical indicators suggest that Ethereum could approach the $3000 mark in the coming weeks.
