The article focuses on the current situation of Ethereum (ETH) and the technical and on-chain factors that may affect its value. Below is a summary and further analysis:
The current situation of Ethereum
• ETH price has fallen below 3,500 USD, currently fluctuating around 3,422 USD.
• Whale activity: Whale transactions worth about 11 billion USD are increasing, often a sign of interest from large institutions.
Indicators and trends
1. Weighted Sentiment Indicator:
• Almost reaching a positive level, if maintained, could support a bullish trend for Ethereum.
2. Accumulation/Distribution (A/D) Line:
• The A/D line continues to rise, indicating strong accumulation from investors. This often reflects optimistic market sentiment.
3. Resistance and support levels:
• Resistance: 3,982 USD – If this level is broken, ETH could rise to 4,110 USD.
• Support: If the resistance level is not broken, ETH price could drop to 3,178 USD.
Analysis and predictions
1. Positive signal:
• Whale activity and institutional interest are on the rise.
• The A/D line is increasing and market sentiment approaching positive levels are signals for a bullish trend.
2. Negative signal:
• Ethereum needs to break the resistance level of 3,982 USD to continue growing. Otherwise, selling pressure could push the price down below 3,178 USD.
3. Forecast:
• Short term: If whale activity and market sentiment continue to support, Ethereum could reach the resistance level of 3,982 USD and go further.
• Long term: The trend depends on maintaining positive sentiment and high trading volume from institutions.
Advice for investors
• Watch the important resistance level: 3,982 USD. If the price surpasses this, it could be a positive signal for further investment.
• Caution with selling pressure: If the price cannot maintain above 3,500 USD, the likelihood of a drop to 3,178 USD is quite high.
• Monitor on-chain factors and news about large institutions: These are important factors shaping ETH's price movements.
Ethereum is at a critical stage. Patience and careful analysis will help you make the right decision.