Ethereum Price Outlook: ETH Large Transactions Hit $11 Billion Amid 10% Rebound
In Brief
- Ethereum large transactions hit 2.83 million ETH, signaling increased institutional activity and further upside.
- Market sentiment is turning bullish, which could support Ethereum’s price rebound beyond the $4,500 mark.
- ETH might break the $3,982 resistance and rally toward $4,500. Failing that, the price could decline to $3,178.
The Ethereum (ETH) price outlook has been on investors’ radars for a while. Amid this sentiment, the cryptocurrency has rallied above $4,000 and, at one point, decreased below $3,200.
However, in the last 24 hours, Ethereum’s price has increased by 10%, with large transactions climbing to levels not seen in almost one week.
Ethereum Sees Notable Institutional Interest
Ethereum’s 10% surge has pushed the altcoin to $3,422. On-chain data reveals that increasing institutional interest is a key factor influencing Ethereum’s price outlook.
IntoTheBlock reports that Ethereum’s large transactions have climbed to 2.83 million ETH. This increase suggests heightened trading activity among whales and key stakeholders.
On the other hand, a decline in this metric indicates dwindling interest. At the time of writing, these transactions are worth approximately $11 billion. Historically, when this metric rises alongside the price, it is a bullish sign. As such, the ETH price could rise above $4,500 in the short term.
The Weighted Sentiment indicator suggests Ethereum’s price could keep rising. This metric measures overall market perception of a cryptocurrency, with positive readings reflecting bullish sentiment and negative readings indicating bearish sentiment.
Santiment data shows Ethereum’s Weighted Sentiment is nearing the positive zone. If it remains in this territory, ETH’s value could continue to increase.
Get to know Godleak
Godleak crypto signal is a service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.
It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.
Godleak crypto leak service have multiple advantages in comparision with other services:
- Providing signal of +160 best crypto vip channels in the world
- Using high tech bot to forward signals
- Without even a second of delay
- Joining in +160 separated channels on telegram
- 1 month, 3 months , 6 months and yearly plans
- Also we have trial to test our services before you pay for anything
For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features
Join for Free
☟☟☟☟☟
https://t.me/Godleakbot
Also you can check the list of available vip signal channels in the bot. by pressing Channels button.
 
ETH Price Prediction: Breakout Beyond $4,000 Still On the Cards
According to the 3-day ETH/USD chart, the Accumulation/Distribution (A/D) line has continued to climb. A rising A/D line indicates that investors are buying, which could drive the price higher. When the indicator’s reading drops, it indicates that investors are distributing, which is a bearish sign.
Since it is the former for ETH, it suggests that the cryptocurrency’s price might break the $3,982 resistance. If validated, the value could hit $4,110. However, if the broader market conditions become extremely bullish, Ethereum’s price could rally above $4,500.
But if the cryptocurrency fails to break above the resistance, the value might not experience such an upswing. Instead, the price might decline to $3,178.
