Ether Lee is standing beyond more than $ 2,000 after a few months of weak pressure. The recovery signal is the main resistance of the market eye, renewing optimism among investors.
Whale activity is soaring
Ether Lee (ETH) exceeded $ 2,000 on Monday and scored 9%last week, and Ether Leeum’s recent price was less than $ 2,000.
Over last week, Etherum Whale, with 10,000 to 100,000 ETHs, purchased about 470,000 ETHs and reflected about $ 1 billion in market confidence.
According to GlassNode’s chain data, large -scale investors have increased their shares by 29% in just two weeks.
The number of addresses with at least $ 100,000 ETH increased from 70,000 to 75,000 on March 10, showing a change in market epidemiology.
This whale activity is consistent with institutional interest in Ether Leeum. The New York Securities Exchange (NYSE) has requested the US Securities and Exchange Commission (SEC) to approve the new Etherrium exchange trading fund (ETF) at Bitwise.
Similarly, CBOE BZX Exchange has submitted a proposal for 21Shares core ethereum ETF.
In early March, Ether Lee’s price plummeted to $ 1,800, the lowest since November 2023.
Technical indicator flash optimistic signal
Technical indicators point out the intensity of Ether Leeum. Technical indicator signal signal strengthening exercise. The RSI, which measures price momentum, rises to 47, suggesting that the buyer is returning.
The moving average convergence discharge (MACD) is maintained above the signal line, and the green histogram bar represents optimistic momentum.
The outlook on the weekly chart looks much more positive. RSI has risen to 37 and weakens MACD histograms. But optimistic crossovers can still be somewhat far away.
Main resistance level of focus
Despite the increase in Ether Leeum and more than $ 2K since mid -March, traders warn that the level of critical resistance has not yet been violated.
Crypto Trader @TheeleITECRYPTO said, “We must pay attention to whether we are over $ 2,200 over $ 2,200.
Sako Traderis said, “If you can turn the ETH guy upside down and catch it on it, you can see the mini rally.
on the other way
- Despite the recent recovery of Ether Leeum, Ether Leeum ETF has been leaked from March 5. Coinglass.
Why this is important
As whales continue to accumulate and technical indicators show optimistic signs, Ether Leeum appears to be preparing for potential evacuation. Traders are seeing major resistance levels, especially $ 2,200 in the next few weeks.
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