Is ethereum price preparing to mobilize a monster? Eth reaches 80 % at the last time this happened
The price of ETHEREUM has slowed – repeatedly failed to violate the resistance area of about 2800 dollars – over the past few weeks after a strong start for the month of May. The second largest encrypted currency aims to repeat this wonderful model in the first days of June in order to restore the level of 3000 dollars desirable in the coming months.
Since losing the level of $ 3,000 in early February, the ETH price has struggled to build a continuous upward momentum, reaches only 2700 dollars several times in the past few weeks. However, modern market data shows that the price of ETHEREUM can prepare for an extended crowd during the next few months.
What do you know the ether whales?
In the May 31 publication on the social media platform X, the continuous coding analyst Darkfost available A future look at the series on the ETHEREUM price momentum and investor address. According to the market analyst, a signal to the series that preceded a large price ravage in the past has moved.
The relevant indicator here is the average ETHEREUM arrangement on Binance, which is calculated by dividing the total trading volume on the number of deals on the largest encrypted currency exchange in the world (by trading volume). This scale offers Visions about the groups of merchants – whether they are large institutional investments or retail traders – the most dominant on a specific stock exchange.
Based on this scale on the chain, big investors come back to the market, as shown in Pisces orders on Binance since May 19. Darkfost said the graph below provides “an immediate snapshot and momentum on Binance, with the main market data combined with immediate activity, decline solutions, and comparison of animation.”
Source: @Darkfost_Coc on X
The analyst added to the series:
In short, it is a comprehensive reference, and today, something rare and strong is overwhelmed by The last time that this indicator lit up like this in December 2023, before eth started directly from $ 2,200 to $ 4000.
Darkfost also mentioned that whales do not always try to find a low entry point, but rather put themselves early when the broader direction begins to show signs of strength. With the average requests for Binance that are mostly placed by whales, it means that the ETHEREUM price can prepare for another 80 % step in the next few weeks.
Consequently, Darkfost believes that May may be a huge entry window, which most big investors seem to have benefited from.
Ethereum price at a glance
As of the writing of these lines, the ETHEREUM price is about $ 2,537, which reflects a 0.5 % increase during the past 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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