500,000 ETH in just 1 week: does the Ethereum price prepare for a new big rally?

Tl; Dr.

• The clear shift from exchanges to self -spice methods and the renewed accumulation of whales suggest that ETH can prepare for another price pump.
• Optimists claim that ETH has been imposed and is ready for a “only” process “, while skeptics warn of a potential decrease up to $ 3,800 as the momentum weakens.

Come in green days?

Ethereum (ETH) was paramount in the win in August and reached a new all time of almost $ 5,000 by the end of the month. Since then, however, the price has been getting south and now floats under $ 4,400 (per data from Coingecko).

Certain factors indicate that the bulls will soon be able to enjoy a new revival. The popular X user Ali Martinez unveiled Which has 500,000 ETH (more than $ 2.1 billion) are withdrawn From Crypto exchanges in the past week alone.

Data collected by cryptoquant shows that the total stock on such platforms is currently approximately 17.3 million tokens, which represents the lowest level that has been observed since the summer of 2016. This is a clear sign that investors have shifted from centralized exchanges to self -insurance methods, which in turn reduces the immediate sales pressure.

In the meantime, Ethwalfissen continue to show an enormous appetite for actively. Earlier this week, those large investors (each between 10,000 and 100,000 coins) built 260,000 tokens in just one day. As a result, they raised their total property to 29.62 million ETH, which is good for almost a quarter of the circulating range of the active.

Such efforts make fewer coins available on the open market and can raise the price (assuming that demand does not decrease). The whales are dominant market participants and their activities are often followed By mimic retail investors who can decide to mimic their relocation and spread extra capital in the ecosystem.

Analyst

Many crypto enthusiasts on X seem optimistic about ETH, because they believe that it has enough fuel to make extra profit. The analyst with the name of the name Mister Crypto thinks The prize reached its local soil in April when it dives under $ 1,400 and is now on its way For a “only” route “.

On the other hand, Ted made a somewhat bearish prediction. He noted That ETH continues to hold the $ 4,200 level, but claimed that the price “does not look very strong” and provided a potential decrease to $ 3,800 as “a definitive support objective for the correction.”