📊 Ethereum ($ETH ) Struggles at $4,000, But Whales Continue to Accumulate
Ethereum’s price has struggled to close above the $4,000 mark for the second time in the last six months. Despite rallying close to this key psychological level, ETH was unable to maintain its position, signaling the need for a stronger bullish conviction to push the price past this barrier.
The failure to sustain above $4,000 suggests that investors are hesitant, with profit-taking likely playing a key role in halting the momentum.
📊 #Ethereum Whales Accumulate
Whale addresses holding between 10,000 and 100,000 ETH, which have demonstrated strong accumulation over the past five days, purchasing a combined total of 400,000 ETH worth over $1.5 billion. This significant accumulation highlights that large wallet holders continue to have confidence in Ethereum’s long-term growth.
The whales’ buying activity highlights Ethereum’s attractiveness as an investment. Despite recent challenges in surpassing the $4,000 barrier, this large-scale accumulation demonstrates that institutional and high-net-worth investors are not deterred by short-term volatility.
The transaction volume distribution reveals that a significant portion of Ethereum transactions are in profit, far outpacing those in the red. This suggests that a majority of Ethereum holders are sitting on gains, increasing the likelihood of profit-taking. If investors decide to capitalize on their profits, this could trigger short-term sell-offs, placing downward pressure on Ethereum’s price.
The dominance of profitable transactions also indicates that Ethereum has a large number of investors with a vested interest in securing returns. While this reflects healthy market activity, it also means that the risk of price corrections remains elevated. Profit-taking, especially after a strong rally, could hinder Ethereum’s ability to break through the $4,000 barrier and sustain its growth trajectory.