According to Santiment data, there was a strong accumulation by whales in the past 3 months. The number of ether held by them is at an all-time high and some have made great gains on their holdings.
This could mean that in the next 3 months, we can expect some major news to be released. This may lead to an upward price movement for ether.
Ethereum is one of the most popular cryptocurrencies on the market today and has attracted a lot of attention from both investors and traders. The recent bull run of Ethereum saw it reach a high of $1,674 per coin, and it remains one of the most valuable digital currencies in the world.
Whether you are an experienced trader or just starting with cryptocurrencies, there are many reasons to be bullish on Ethereum. Some of these advantages include its superior technology platform, growing community, and strong team backing the project.
One of the key advantages of Ethereum is that it has a superior technology platform. The Ethereum blockchain can process thousands more transactions per second than Bitcoin, making it ideal for enterprises and large organizations. This could make it the preferred choice for many businesses looking to adopt blockchain technology.
Another major reason to be bullish on Ethereum is its growing community. Over the past year, the number of active users and developers on Ethereum has skyrocketed, showing that there is increasing interest and support for this digital currency. And with a strong team backing the project, it looks like Ethereum will continue to be a major player in the blockchain space for many years to come.
What does technicals suggest about ETH price?
The MACD indicator suggests that the price of ETH will increase in the next few months. This is based on the fact that there has been a strong accumulation of ether by whales over the past three months, with many of these investors reaping significant gains on their holdings.
Most technical indicators suggest that the price of Ethereum is likely to continue rising in the near future. The MACD, for example, has been consistently positive over the past few months and indicates that there is strong buying pressure in the market.
Additionally, trading volumes have been steadily increasing throughout this period and show no signs of slowing down soon. Overall, these technical factors suggest that Ethereum is well-positioned to continue its recent bull run and reach even higher price levels in the near future.
Conclusion
Overall, it seems that there is a lot of potential for growth for the price of Ethereum in the coming months. Whether you are a long-term investor or just looking to make some short-term gains, ETH looks like a good investment opportunity at this time. Do your research and keep an eye on the market trends to make the most informed investment decisions possible.
