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Whale activity
In the past week, Ethereum (ETH) has experienced significant activity with large transactions The Ethereum Foundation recently sold 100 ETH for about 252,939 DAI and has offloaded a total of 1,450 ETH worth around $3.57 million since early September to manage its holdings.
One notable whale account, myparagon.eth, sold all 4,802 ETH for about $12.56 million in profit, having bought them for around $20.75 million. However, the number of Ethereum whales holding over 10,000 ETH has dropped by more than 7% since July 2024, indicating a shift in sentiment among wealthy investors.
Despite fewer whales, around 62% of Ethereum holders are still in profit, and there has been an increase in net inflows into Ethereum, suggesting growing interest in the network. Overall, while whale activity has slowed, the market sentiment remains positive as these trends could impact Ethereum's future price movements.
The intraday bullishness is possible if it holds above $2705. Any significant jump above targets $2820/$3000/$3200. Significant bullish continuation only above $3400.
The immediate support is around $2500. Any breach below $2500 confirms bearish continuation. A dip to $2300/$2100/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.
It is good to buy above $2705 with SL around $2500 for TP of $3200.
