Time is running out for Ethereum (ETH): Will the decline continue?

#Ethereum ($ETH ), which has fallen below $ 3,500, has confused people with an increase in whale activity.

Ethereum's 10 percent rise has carried the price to $ 3,422. Onchain data points to increasing institutional interest as an important factor affecting the course of Ethereum. According to IntoTheBlock data, $ETH whale activity is increasing. This development may be a positive signal for the altcoin market.

A decrease in this metric indicates decreasing interest. As of the writing of the news, the total value of whale transactions is approximately $ 11 billion. Historically, when this metric increases with the price, a bull run begins.

Ethereum's price increase is also supported by the Weighted Sentiment indicator. This indicator measures the general market sentiment of a cryptocurrency. Positive levels reflect an upward trend, while negative levels reflect a downward trend. Sentiment data shows that Ethereum's Weighted value is approaching the positive zone. If it remains within this zone, ETH is expected to continue to rise in value.

The 3-day ETH chart shows that the Accumulation/Distribution (A/D) line continues to rise. A rising A/D line indicates that investors are eager to buy. On the other hand, a decrease in this indicator indicates that investors are starting to experience selling pressure.

The rising A/D line for Ethereum indicates that its price could break the $3,982 resistance. If this scenario occurs, Ethereum could reach $4,110. However, unless #Ethereum can break above this resistance, the price could pull back to $3,178.