Journalist
Posted:
- Ethereum saw another $100 million smart money boost.
- With 66% of addresses in profit, can it stop another pullback?
Ethereum’s[ETH] 5.23% surge in 24 hours is no fluke – smart money is flowing in.
With a 30% volume spike and the $2.5K dip snapped up, the question is how high can this rally go?
Will ETH shatter expectations?
Risk appetite is creeping back as futures traders crank up leverage. In just one day, $37.21 million in Ethereum shorts got wiped out, at press time, with over $1.5 billion in new positions opened.
Whales and institutions saw it coming. Smart money has been loading up on ETH, injecting an additional $100 million into the market. The result was a crucial save.
Just as ETH looked set to retrace to pre-election levels, aggressive buyouts held $2.5K as solid support. This 32% drop from its $4,016 post-election peak was pure profit-taking, with over 95% of HODLers in profit.
Now, that number has slipped to just 66%. However, history suggests it’s still not low enough for a true bottom, keeping Ethereum at risk of another pullback, especially with market FUD still looming.
Source: Glassnode
So, is more pain ahead for Ethereum?
ETH/BTC just hit a three-year low – but now, a bullish reversal is underway. With the MACD turning green and Bitcoin[BTC] consolidating, it looks like investors are eyeing Ethereum for rotation.
Yet, despite ETH’s 5% surge, exchange reserves have jumped over 4%, signaling traders aren’t in full HODL mode just yet.
A pullback seems inevitable. A staggering 9.9 million addresses, holding 62.14 million ETH, just flipped into profit at $2,560. That’s $1.5 billion primed for a potential sell-off.
Source: IntoTheBlock
The real question? Can smart money keep Ethereum in consolidation before a breakout, or will fading greed and creeping fear send it tumbling back to $2,200?
The days ahead will decide – but right now, the odds favor the latter.
Journalist
Posted:
- Ethereum saw another $100 million smart money boost.
- With 66% of addresses in profit, can it stop another pullback?
Ethereum’s[ETH] 5.23% surge in 24 hours is no fluke – smart money is flowing in.
With a 30% volume spike and the $2.5K dip snapped up, the question is how high can this rally go?
Will ETH shatter expectations?
Risk appetite is creeping back as futures traders crank up leverage. In just one day, $37.21 million in Ethereum shorts got wiped out, at press time, with over $1.5 billion in new positions opened.
Whales and institutions saw it coming. Smart money has been loading up on ETH, injecting an additional $100 million into the market. The result was a crucial save.
Just as ETH looked set to retrace to pre-election levels, aggressive buyouts held $2.5K as solid support. This 32% drop from its $4,016 post-election peak was pure profit-taking, with over 95% of HODLers in profit.
Now, that number has slipped to just 66%. However, history suggests it’s still not low enough for a true bottom, keeping Ethereum at risk of another pullback, especially with market FUD still looming.
Source: Glassnode
So, is more pain ahead for Ethereum?
ETH/BTC just hit a three-year low – but now, a bullish reversal is underway. With the MACD turning green and Bitcoin[BTC] consolidating, it looks like investors are eyeing Ethereum for rotation.
Yet, despite ETH’s 5% surge, exchange reserves have jumped over 4%, signaling traders aren’t in full HODL mode just yet.
A pullback seems inevitable. A staggering 9.9 million addresses, holding 62.14 million ETH, just flipped into profit at $2,560. That’s $1.5 billion primed for a potential sell-off.
Source: IntoTheBlock
The real question? Can smart money keep Ethereum in consolidation before a breakout, or will fading greed and creeping fear send it tumbling back to $2,200?
The days ahead will decide – but right now, the odds favor the latter.
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