Ethereum Price Outlook: ETH Large Transaction Volume Reaches $11 Billion, Rebounds 10%

Live stream and understand the bull market!!!

The price outlook for Ethereum (ETH) has been a focus of investor attention for some time. Influenced by this sentiment, the cryptocurrency once surged above $4,000 and dipped below $3,200.

However, in the past 24 hours, Ethereum's price has risen by 10%, with large transaction volumes climbing to the highest level in nearly a week.

The 10% increase in Ethereum has pushed its price up to $3,422. On-chain data indicates that the growing interest from institutional investors is a key factor affecting Ethereum's price outlook.

IntoTheBlock reports that large transactions of Ethereum have risen to 2.83 million ETH. This increase indicates that trading activity among whales and key stakeholders has increased.

On the other hand, a decline in this indicator suggests that interest is waning. At the time of writing, these transactions are valued at approximately $11 billion. Historically, when this indicator rises alongside the price, it is a bullish signal. Therefore, the ETH price may rise above $4,500 in the short term.

The weighted sentiment indicator suggests that Ethereum's price may continue to rise. This indicator measures the overall market perception of the cryptocurrency, with positive readings reflecting bullish sentiment and negative readings indicating bearish sentiment.

Santiment data shows that Ethereum's weighted sentiment is approaching positive territory. If it remains in this area, ETH's value may continue to rise.

Live stream and understand the bull market!!!