Key Notes
- Today’s Ethereum price rally comes with daily volumes surging 125% to over $20.5 billion, suggesting strong bullish sentiment.
- The ETH/BTC pair shows a rare bullish monthly MACD crossover, hinting at a major altcoin market rally.
- Whale activity has intensified, with a major investor who previously accumulated nearly $1.5 billion worth of ETH returning to buy dips.
Amid the broader crypto market consolidation, Ethereum
ETH
$3 095
24h volatility:
0.5%
Market cap:
$375.52 B
Vol. 24h:
$22.68 B
is showing strength with a 1.35% gain today, trading around $3,153.
Latest data indicates that whale entities have been rotating capital from BTC
BTC
$88 806
24h volatility:
0.2%
Market cap:
$1.78 T
Vol. 24h:
$34.84 B
to ETH. If this trend continues, it could set the stage for the next altcoin rally.
Ethereum Price Shows Strength Above $3,000
Following a drop to $3,050 earlier today, Ethereum price has shown strength amid strong buying interest. As ETH flirts with $3,150, the daily trading volumes have surged 125% to more than $20.5 billion.
Popular market analyst Ted Pillows noted that ETH is showing strength after holding above the key $3,000 support level. The largest altcoin has since staged a quick recovery.
Pillows noted that as long as the current support zone remains intact, ETH could rebound toward the $3,300-$3,400 range. However, the analyst warned that a breakdown below $3,000 could trigger a rapid decline toward levels below $2,800. So far, investors have been actively buying the Ethereum price dips.
Another popular X handle, Bitcoinsensus reported that the ETH/BTC trading pair has generated a bullish signal on the monthly chart.
The MACD indicator flashes a bullish signal. The analyst noted that this type of signal is rare and usually appears only once per market cycle.
According to Bitcoinsensus, the last time a similar setup occurred, it triggered a significant capital rotation into altcoins over the following year. This suggests a notable shift in market dynamics from BTC to ETH.
ETH Mega Whale Buys 38,576 Coins
The whale activity surrounding Ethereum has spiked once again. On-chain data shows that during the recent market dips, a mega whale dubbed 66kETHBorrow has turned active again, buying the dips.
The wallet, which previously acquired around 489,696 ETH valued at approximately $1.5 billion, has resumed buying activity over the past several hours.
Data shows that within the last 8 hours, the whale borrowed $85 million in USDT from the Aave
AAVE
$193.6
24h volatility:
0.4%
Market cap:
$2.94 B
Vol. 24h:
$317.84 M
lending protocol, transferred the funds to Binance, and subsequently withdrew 38,576 ETH valued at roughly $119.3 million.
The renewed accumulation comes as the broader market consolidates. It suggests continued conviction from large holders despite short-term volatility.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: https://www.coinspeaker.com/ethereum-price-can-dominate-rally-over-bitcoin-as-1-5b-eth-whale-wakes-up/
