CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

coinpedia 2025-05-05 16:02:44

Whales Turn Bullish on Ethereum Ahead of Pectra Upgrade—Will ETH Price Hit $2200?

The post Whales Turn Bullish on Ethereum Ahead of Pectra Upgrade—Will ETH Price Hit $2200? appeared first on Coinpedia Fintech News Ethereum’s Pectra is scheduled to go live in a few days from now, which is believed to be one of the largest ones. The main aim of the upgrade is to improve the transaction speed on the network and enhance the scalability and validator’s operations. Many expect a rise in the volatility around the upgrade that may ultimately push the ETH price beyond the bearish captivity. The price of Ethereum has remained stagnant for more than a fortnight, and despite this, the holders do not appear to have backed down. The accumulating addresses are up by 22.5% since March, and the exchange netflow remains negative, as both whales and retailers are withdrawing. Besides, the stock-to-flow ratio has hit a yearly high of 374, indicating that the ETH scarcity is increasing. On the other hand, the whale activity has risen suddenly as a dormant whale woke up after 4 years and withdrew over 1200 ETH, and the total whale accumulation has smashed new highs. Source: X The whales are buying ETH like never before, just ahead of the major upgrade. This suggests they are extremely bullish on the ETH price. On the other hand, the ETB/BTC pair has reached a yearly support level, coinciding with January 2020 lows, with the RSI deeply oversold. This suggests the token is ready to trigger a strong reversal, which may also change the fate of the other altcoins as well. Will the ETH Price Reclaim $2200 This Week? The ETH price broke out of the descending triangle in April and quickly entered an ascending one. Currently, the price remains stuck around $1800 after pulling back from the local highs at $1842. As the support has been tested in the short term at around $1785, the growth trajectory appears to have become more prominent. The weekly chart of ETH price suggests the second-largest token could be subjected to a prolonged consolidation between a pre-determined range of $2500 and $1500. Mainly because the weekly Gaussian channel has just turned bearish. Previously, when this occurred, the price remained accumulated within a range and triggered a breakout only when the price surged above the average bands. On the other hand, the weekly RSI has hit the lower threshold, which occurred during the 2022 lows. Therefore, a rebound could elevate the levels towards new highs.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta