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Ethereum“According to market capitalization, the second largest cryptocurrency is traded for $ 3,749 in the middle of the ongoing market decline, as investors are waiting for the Federal Reserve interest rate decision.
Ethereum rose near the brand $ 4,000 and 28. July reached a maximum of $ 3,941 before it dropped. Analysts consider a slight pullback as consolidation, expected before Ethereum will take another big step.
Crypto analyst Ali It predicts two potential goals of the price ETH: 4 220 $ and $ 5,140. This is based on two factors: if essential support and price of the price of MVRV, the key metric on-the-session used to evaluate market conditions.
According to Ali, the key support is $ 3,300 and if ETH keeps this level, the way forward remains bull. The analyst stated in the tweet that if support for $ 300 continues to hold, Ethereum could be on the way to the transition to $ 4,220 and potentially $ 5,140.
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Active realized Glassnode’s ETH +1σ is a key threshold for the current rally for $ 4,500. This level served as a resistance in March 2024 and during the 2020-2021 cycle. Breakouts often signal the euphoria on the market and the increasing risk of structural instability.
Ethereum whales accumulate
Ethereum It attracts a new institutional interest because the whales accumulate ETH.
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According to a data source on the lookonchain chain, a fresh wallet simply called “0x3DF3” for another 12,000 ETH worth $ 45 million from Galaxy Digital OTC Wallets back. Lookonchain also revealed that since July 9th, a total of nine fresh wallets had accumulated 640,646 ETH worth $ 2.43 billion. Another whale referred to as “0x4352” withdrew 20,000 ETH worth $ 75.56 million from Binance.
Ali said in a recent tweet that some of the largest whales recently bought over 220,000 ETH for $ 840 million.
Blackrock Ethereum ETF (ETHA) now holds over three million ETH to $ 11.36 billion, after 1,25 million ETH accumulates from 1 July.
