• bitcoinBitcoin (BTC) $ 77,214.00
  • ethereumEthereum (ETH) $ 2,410.75
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 1.47
  • bnbBNB (BNB) $ 646.04
  • usd-coinUSDC (USDC) $ 0.999863
  • solanaSolana (SOL) $ 88.51
  • tronTRON (TRX) $ 0.327088
  • staked-etherLido Staked Ether (STETH) $ 2,265.05
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.02

Ether accumulation wallet balances increased by 33%: Is a rally to $3K next?

A confirmed cup-and-handle breakout on Ether’s chart and a double-digit increase in ETH accumulation wallet balances could be earlier signs of a longer-term rally for the altcoin.

🔗 Source

💡 DMK Insight

ETH’s cup-and-handle breakout at $2,421.39 is a bullish signal, but here’s why you should pay attention: The recent surge in ETH accumulation wallet balances indicates growing interest, which often precedes price rallies. This pattern suggests that traders might be positioning for a longer-term upward trend. If ETH can hold above the $2,400 level, it could attract more buyers, potentially pushing it towards resistance levels around $2,600. However, keep an eye on broader market sentiment; if Bitcoin shows weakness, it could drag altcoins down despite positive technicals. On the flip side, if ETH fails to maintain momentum and drops below $2,350, it could trigger profit-taking and shake out weaker hands. Watch for volume spikes as a confirmation of the breakout; sustained buying pressure will be key to validating this bullish setup. The next few days will be crucial for ETH traders, so stay alert for any shifts in accumulation trends or market sentiment.

📮 Takeaway

Monitor ETH closely; a hold above $2,400 could signal a rally, but watch for weakness below $2,350 to avoid potential losses.

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