Ethereum's 20% surge is fueled by whale accumulation and exchange outflows. Is the altcoin poised for a potential ATH?
Ethereum whale activity is driving the recent price surge, with key technical indicators suggesting ETH may be poised to reach new all-time highs.has surged by 20% over the past week, fueled by significant outflows from exchanges and rising whale accumulation, reflecting growing confidence in the asset.
While minor inflows around the 7th and 10th of November suggest some profit-taking, the overall sentiment remains bullish. However, any sustained shift towards inflows could challenge ETH’s support levels, introducing potential volatility.Whale transactions surged in late October and early November, correlating with ETH’s 20% price rally, suggesting that large holders have been pivotal in pushing prices higher.
Continued whale engagement will be crucial in maintaining upward momentum. A sustained decline in whale activity could indicate a potential correction or increased volatility.recent rally and strong whale accumulation raise the possibility of revisiting or surpassing its ATH. The RSI at 67 signals bullish momentum without being overbought, suggesting room for further growth.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$9.3B ERC-20 tokens flood exchanges: Impact on Ethereum?Ethereum has seen a near double digit gain in the past. Meanwhile, there has been a massive influx of ERC-20 stablecoins into exchanges.
Read more »
Solana price hits ATH against Ethereum: Can ETH reclaim its dominance?Solana' increasing asset value could jeopardize ETH’s dominance, positioning it as the go-to high-cap asset for investors.
Read more »
Solana fees breaks ATH: Is SOL set to outshine Ethereum once again?Solana has outperformed Ethereum in network fees amid a surge in network usage. SOL has also formed a new high against ETH on the daily chart
Read more »
Bitcoin, Ethereum options expire: Mixed sentiments as BTC nears ATHOptions expiry on the 25th of October shows bullish Bitcoin sentiment as whales rise, while Ethereum lags near lows.
Read more »
Charting Ethereum’s path to ATH: Will Bitcoin’s record rally pave the way?Ethereum is seeing a surge in exchange netflow as Bitcoin hits a new all-time high. How could this impact its price trend?
Read more »
Ethereum nears YTD high after a 29% surge – Can ATH be far behind?Ethereum's surge fuels speculation of a new ATH, driven by trader activity and long-term holders - though caution is advised.
Read more »