Altcoin giant Ethereum 
$4,394.56While the price of $ 4,300, the whales purchased 260,000 ETHs in 24 hours. Analysts say that if this level is preserved, the target of $ 7,000 may come up.
Ethereum stands out with whale purchases and stock market outlets
Experienced analyst Ali Martinezbetween 10,000 and 100,000 units Eth According to the wallets holding, approximately 260,000 pieces in the last 24 hours gathered. Thus, total whale assets approached 29.6 million ETHs. In this process, the price was based on $ 4,400. Whale purchases were recorded as one of the most powerful purchases of the recent period.
Moreover, in August, there was a high amount of ETH output from the stock exchanges. On August 14, the output of the outputs reached 2.8 million ETHs, the price of $ 3,600 to $ 4,800 took place. In the following weeks, the price moved in the range of $ 4,300–4,600, while the outputs decreased. At the beginning of September, daily exits fell below 500,000 ETHs.
The data shows that whales continue to pull ETH from the stock exchanges, but as of September it slows down.
Technical indicators support the expectation of rise in ETH
For ETH, the funding rates in the stock exchanges were positive during August. On September 2, the funding rates in the stock exchanges approached 0.02, which became one of the highest values of the month. Positive funding rates reveal that long positions are predominantly.
Analyst MerlijnIn the graph that Ethereum has not been able to pass many times since 2021 in the graph shared by the perennial resistance line transferred. This level is currently tested as support. Merlijn said that this means transition to the growth phase and targets over $ 7,000 stand out.
Analyst added that the long -term channel structure in the Ethereum graph was preserved and the accumulation period under $ 2,750 officially ended.
Cryptoappsy According to data, ETH is traded at $ 4,397 with a decrease of 1.73 percent in the last 24 hours at the time of the news.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
