💼 Institutions Double Down on ETH — Whale Move From Galaxy
Monnie Brunt OkvK
Updated at: a day ago
{"content":"💼 Institutions Double Down on ETH — Whale Move From Galaxy OTC Signals Confidence
After a bullish yet turbulent period, Ethereum is reaching key levels again. After rebounding sharply from yesterday's low of $3,675, ETH is trading over $3,800 as traders await a significant move. If ETH breaks over $4,000 barrier, the structure supports continuation despite short-term volatility.
This mark currently separates stabilization from a move to new highs. A verified breakout would certainly boost cryptocurrency market bullishness. Price stays in a narrower range until then, testing trader patience and liquidity.
On-chain data is encouraging. Arkham, a blockchain analytics tool, reports that whales have increased their ETH holdings in recent days. High-cap players' increased confidence suggests greater gains in the months ahead.
It's not another whale maneuver. Strategic buildup was evident when ETH was transferred to a new wallet from a licensed OTC supplier. Ethereum's usefulness, programmability, and potential importance in tokenized finance make institutional allocators confident in its use as conventional finance interacts with crypto.
This large purchase follows a protracted decline. This year, ETH prices fell for months due to selling pressure. Low retail interest and pessimistic sentiment. While the public panicked, savvy players discreetly accumulated throughout the slump.
ETH Consolidates Below Resistance
The 4-hour chart shows Ethereum (ETH) trading in a tight range below $3,860.80, a significant resistance level. ETH is above its 50- and 100-period moving averages, $3,756 and $3,629, despite recent market volatility. This implies short-term bullish momentum.
As ETH tests this important horizontal barrier, volume has increased, showing trader interest. Since July 25, the price has failed to close above this level many times, emphasizing its importance. However, the prior week's higher lows suggest hidden buying pressure.
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