- Ethereum recently witnessed a surge in large transactions.
- ETH has fallen below its $4,000 milestone but remains close.
Ethereum [ETH] has witnessed a sharp increase in large transactions, with weekly volumes spiking over 300% to $17.15 billion before cooling to $7 billion.
Whale activity exceeding $100,000 has surged, coinciding with Ethereum’s rally to $4,000.
As exchange netflows suggest reduced selling pressure, the market eyes key psychological resistance, with bullish momentum and strong support levels shaping the outlook.
Analyzing Ethereum’s large transaction activity
Ethereum has recently seen a significant uptick in large transactions.
AMBCrypto’s analysis of the transaction chart on IntoTheBlock showed that weekly transaction volume surged over 300% to hit $17.15 billion on the 6th of December before falling to $7 billion at the time of writing. T
he increase has sparked curiosity about the direction and implications of these transactions, especially as Ethereum’s price approaches key psychological levels.
Source: IntoTheBlock
Additionally, the large transaction chart on Santiment reveals a sharp rise in the number of whale transactions exceeding $100,000 in value, suggesting increased institutional or high-net-worth activity.
The spike aligns with Ethereum’s recent rally to $4,000, indicating that some whales may be taking profits or redistributing holdings.
The whale transaction count chart demonstrates periodic peaks, underscoring strategic moves during volatile price phases.
Source: Santiment
Exchange netflow and price correlation
The exchange netflow chart shows alternating inflows and outflows, with recent significant outflows suggesting reduced selling pressure. The analysis of the chart showed a negative netflow of over 17,000.
This behavior typically signals a bullish sentiment as traders move assets into cold storage. However, the price has faced resistance near $4,000, which coincides with the psychological barrier and profit-taking activity.
Price performance and technical analysis
Ethereum’s price chart reflects a consistent uptrend since early November, with the 50-day moving average offering robust support throughout.
The recent rally to $4,000 was characterized by increased volume, as seen on the price chart, suggesting strong market participation during the move.
However, the RSI reading of 69.62 indicates that Ethereum is approaching overbought territory, often leading to short-term price correction or consolidation.
Source: TradingView
Interestingly, the MACD remains in bullish territory, with its signal line well above the zero level, indicating continued upward momentum.
The histogram shows reducing bullish intensity, hinting at a possible slowdown, but not necessarily a reversal.
Key support levels lie at $3,800 and $3,500, which align with the 50-day moving average and previous resistance levels, now turned into support.
The surge in large transactions highlights growing interest and activity among whales, likely driven by Ethereum’s improving fundamentals and bullish sentiment.
Read Ethereum’s [ETH] Price Prediction 2024-25
The price action suggests Ethereum is in a healthy uptrend, with key support levels holding strong and momentum indicators favoring further upside.
However, resistance at $4,000 must be closely watched, as the market could face a temporary cooling-off period before attempting higher levels.
- Ethereum recently witnessed a surge in large transactions.
- ETH has fallen below its $4,000 milestone but remains close.
Ethereum [ETH] has witnessed a sharp increase in large transactions, with weekly volumes spiking over 300% to $17.15 billion before cooling to $7 billion.
Whale activity exceeding $100,000 has surged, coinciding with Ethereum’s rally to $4,000.
As exchange netflows suggest reduced selling pressure, the market eyes key psychological resistance, with bullish momentum and strong support levels shaping the outlook.
Analyzing Ethereum’s large transaction activity
Ethereum has recently seen a significant uptick in large transactions.
AMBCrypto’s analysis of the transaction chart on IntoTheBlock showed that weekly transaction volume surged over 300% to hit $17.15 billion on the 6th of December before falling to $7 billion at the time of writing. T
he increase has sparked curiosity about the direction and implications of these transactions, especially as Ethereum’s price approaches key psychological levels.
Source: IntoTheBlock
Additionally, the large transaction chart on Santiment reveals a sharp rise in the number of whale transactions exceeding $100,000 in value, suggesting increased institutional or high-net-worth activity.
The spike aligns with Ethereum’s recent rally to $4,000, indicating that some whales may be taking profits or redistributing holdings.
The whale transaction count chart demonstrates periodic peaks, underscoring strategic moves during volatile price phases.
Source: Santiment
Exchange netflow and price correlation
The exchange netflow chart shows alternating inflows and outflows, with recent significant outflows suggesting reduced selling pressure. The analysis of the chart showed a negative netflow of over 17,000.
This behavior typically signals a bullish sentiment as traders move assets into cold storage. However, the price has faced resistance near $4,000, which coincides with the psychological barrier and profit-taking activity.
Price performance and technical analysis
Ethereum’s price chart reflects a consistent uptrend since early November, with the 50-day moving average offering robust support throughout.
The recent rally to $4,000 was characterized by increased volume, as seen on the price chart, suggesting strong market participation during the move.
However, the RSI reading of 69.62 indicates that Ethereum is approaching overbought territory, often leading to short-term price correction or consolidation.
Source: TradingView
Interestingly, the MACD remains in bullish territory, with its signal line well above the zero level, indicating continued upward momentum.
The histogram shows reducing bullish intensity, hinting at a possible slowdown, but not necessarily a reversal.
Key support levels lie at $3,800 and $3,500, which align with the 50-day moving average and previous resistance levels, now turned into support.
The surge in large transactions highlights growing interest and activity among whales, likely driven by Ethereum’s improving fundamentals and bullish sentiment.
Read Ethereum’s [ETH] Price Prediction 2024-25
The price action suggests Ethereum is in a healthy uptrend, with key support levels holding strong and momentum indicators favoring further upside.
However, resistance at $4,000 must be closely watched, as the market could face a temporary cooling-off period before attempting higher levels.
Приятно узнать что-то новое.
fakel-nsk-afisha.ru
cheap clomid for sale clomiphene cost australia where buy cheap clomiphene no prescription where can i buy clomid pill buy generic clomiphene pill buy cheap clomiphene without dr prescription can i purchase clomiphene without a prescription
This is a keynote which is virtually to my fundamentals… Many thanks! Exactly where can I upon the contact details due to the fact that questions?
Greetings! Very productive advice within this article! It’s the little changes which choice obtain the largest changes. Thanks a a quantity in the direction of sharing!
azithromycin 500mg ca – brand ofloxacin metronidazole pill
domperidone 10mg for sale – order motilium 10mg sale cyclobenzaprine 15mg for sale
buy inderal 10mg generic – buy clopidogrel generic order generic methotrexate 5mg
buy augmentin 1000mg generic – https://atbioinfo.com/ buy ampicillin sale
buy generic nexium 40mg – anexamate order nexium 40mg online
buy coumadin generic – coumamide.com cozaar 25mg canada
buy mobic pills – mobo sin order meloxicam 7.5mg
buy prednisone 10mg pill – inflammatory bowel diseases order prednisone pills
the best ed pill – site ed solutions
buy amoxil medication – comba moxi buy amoxil generic
fluconazole cost – https://gpdifluca.com/# buy fluconazole 100mg generic