Ethereum (ETH) has become the most trending cryptocurrency on major online platforms. This increased interest coincides with the U.S. Securities and Exchange Commission (SEC) considering initial approval. Spot Ethereum ETF. At the same time, Ethereum whales have significantly increased their holdings, purchasing over 110,000 ETH worth approximately $341 million in the past 24 hours.
ETH price skyrockets due to large whale purchases
The Ethereum community is buzzing with news of increased whale activity. According to a recent post on X by Ali Chart, Ethereum whales have purchased over 110,000 ETH in the past 24 hours. This purchase, valued at approximately $341 million, shows strong confidence in cryptocurrencies. Significant acquisitions by these large holders are likely contributing to the recent price rise.
moreover, ethereum price It is showing positive movement. It is currently trading at $3,151.89, an increase of 2.66% from the past day. This price increase was accompanied by a 56.98% increase in trading volume, suggesting increased activity and interest in Ethereum. Over the past 24 hours, the price of Ethereum has fluctuated between his low of $3,050.30 and high of $3,151.49, demonstrating its volatility and high market interest.
Expectations for the SEC’s decision regarding Ethereum ETFs are also playing an important role in current market trends. Investors and traders are monitoring the situation closely. Ethereum ETF This will allow Ether to be traded on stock exchanges like traditional stocks. The SEC is expected to approve both the 19b-4 (Change in Exchange Rules) and S-1 (Registration Statement), paving the way for the ETF.
The possible approval of the ETH ETF is seen as a major milestone for Ethereum, increasing its legitimacy and attracting institutional investors. This development has sparked speculation and excitement within the crypto community, contributing to recent price fluctuations and increased trading volumes.
Ethereum approaches key resistance amid market excitement
From a technical analysis perspective, Ethereum has recently approached the key resistance level at $3,184.59, as shown by the Fibonacci retracement indicator. This level marks the latest price point that Ethereum has tested. Meanwhile, the 1.618 Fib level at $2,664.53 has been identified as a key support level that provides a safety net for the cryptocurrency price.
The Klinger Oscillator indicator is also showing an upward trend, with recent values ​​rising from 286 to 490. This positive movement suggests that buying momentum is building, indicating that traders are entering the market in anticipation of a continued price increase or price maintenance response. Close to that resistance level.
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