$300 Million ETH Bought In A Day, $4,000 Target Draws Closer
Ethereum faced a retracement recently, with its price falling to $3,300. Despite this decline, this level appears to be consolidating as a support floor for ETH.
With strong investor interest and improving network activity, Ethereum may soon attempt to break through key resistance levels and target $4,000.
Ethereum holders are bullish
Ethereum’s active address momentum is currently above the annual average, indicating an increase in on-chain activity. This rise indicates that network infrastructure is improving as more users participate in blockchain. Despite poor market conditions, increased utilization is helping Ethereum maintain its position on the chart volatility.
This continued activity reflects growing confidence The potential of Ethereum For recovery. As investors continue to show interest in the altcoin, its resilience has increased, keeping it from falling below key support levels. Expanding network utilization is a positive sign for long-term growth.
Ethereum’s macro momentum remains strong, supported by heavy buying activity. In the past 24 hours, investors purchased 87,000 ETH, worth approximately $300 million. This influx of capital is consistent with an increase in on-chain activity and demonstrates investor appetite for Ethereum’s resurgence potential.
Net FX positioning supports the view of growing bullish sentiment. Investors are removing Ethereum from exchanges, indicating they prefer to hold the asset for the long term rather than sell it. This behavior suggests optimism about Ethereum’s price trajectory in the coming weeks.
ETH Price Prediction: Aiming for Highs
Ethereum currently The price is at $3,358, which is above the key support at $3,327. However, the altcoin remains trapped at the $3,524 resistance level. A break above this barrier is crucial for ETH to rise towards $3,721 and above, signaling fresh bullish momentum.
If bullish sentiment continues to dominate, Ethereum could head towards $4,000. This level represents a psychological milestone that will solidify ETH’s recovery, attracting more investor interest and network activity.
On the other hand, a loss of support at $3,327 could lead to Ethereum Sliding toward $3,000. Such a decline would invalidate the current bullish outlook and indicate that stronger market support is needed to reverse the trend.
Disclaimer
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