The Ethereum course plunged 13 % in a week. That said, large investors seem to ignore the current volatility of the crypto market. On the contrary, they multiply purchases. This suggests an upward reading in the medium term. More details in the following paragraphs!
In short
- Despite the fall of Ethereum, the crypto whales discreetly continue their massive accumulation strategy.
- Even if the technical signals remain contrasting, institutional investors show no sign of withdrawal.
Ethereum: brutal fall, but historical accumulation of whales
In the space of ten days, Ethereum has lost more than $ 600 in value. Concretely, the ETH lesson went from $ 2,869 to $ 2,233. Essentially fueled by tensions between Israel and Iran, this drop could have triggered a panic movement. However, onchain analysis data reveals the opposite.
According to cryptocurrency, the portfolios containing more than 10,000 ETH have accumulated for more than $ 265 million June 21. At the same time, net flows to “smart money” portfolios have crossed the 871,000 ETH bar. A record since 2017! This sustained accumulation behavior reinforces the idea that major investors anticipate an upcoming resumption of Ethereum.
Another strong signal: The ETF Spot like that of Blackrock has not recorded any significant outing since their launch. On the contrary, they continue to capture capital. This simply means that institutions looking for strategic digital assets are turning more and more towards Ethereum.
Ethereum: between bullish technical signals and threats of withdrawal
On the technical level, the weekly graph of Ethereum shows a structure identical to the consolidation phase observed between 2019 and 2021. The course of this crypto asset evolves above its mobile average over 50 weeks. It forms A Haussier chartist diagram (Ascending triangle). For some cryptography experts, the token ETH could break its absolute record.
But beware! If the resistance of $ 2,350 does not give in, a relapse to $ 2,100 (or even $ 1,800) is possible. Crypto analysts even evoke an extreme withdrawal to $ 900 in the event of prolonged sales pressure.
The market therefore remains tense. However, the accumulation signals on Ethereum are clear. Between institutional resilience and solid technical perspectives, crypto n ° 2 on the market seems to prepare a rebound. The break of $ 2,350 could change everything. To follow …
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