My people! What's up, folks! Are you ready to hear about the serious stuff happening with Ethereum (ETH)? Because the green bill of cryptocurrencies might be about to take a leap that will leave us speechless. Get your wallets ready! 🤑
It turns out that the price of ETH is rising rapidly. In the last seven days, it has gained more than 4.5%, and in the last 24 hours, more than 2.3%! But the most interesting part is that Ethereum whales (yes, those sharks with a lot of money) and exchange data are sending us clear signals that something big is coming. Can you imagine! 🐳📈
Ethereum whales are making bold moves 🐋
According to "on-chain" reports, a big whale took 6,989 ETH (that's like $17.5 million!) from Binance in the last three weeks. And not satisfied with that, the same wallet took out another 1,900 ETH (almost $4.86 million)! 🤯 When these whales withdraw such large amounts of crypto from exchanges, liquidity decreases. And if demand keeps rising while supply drops, that's the perfect recipe for a supply shock and a price surge! It's that simple!
Ethereum reserves on exchanges are plummeting 📉
Watch out for this! Data shows that the amount of ETH on exchanges is continuously dropping. At the beginning of May, there were about 19.5 million ETH in total on exchanges, and right now, it has already dropped to 18.9 million! This means people are moving their ETH to cold wallets or DeFi platforms. And what does that mean? Well, it means investors are thinking long-term and don't want to sell their ETH quickly. They are keeping their treasure! 💎🔒
The price performance of Ethereum: a steady rise! 🚀
ETH has been bouncing between $2,400 and $2,700 for weeks. If it manages to break that barrier and exceed $2,700, hold on tight! Analysts say we could see ETH flying towards $3,000 and even beyond. It would be total madness! On July 1st, it was at $2,405.08 and now it's at $2,562.97. That's growth, my people!
Technical analysis: bullish signals everywhere! 📊
Experts looking at the charts and numbers are seeing nothing but green. The moving averages indicate that ETH has bullish momentum in both the short and medium term. And the RSI (which is like a market thermometer) is at a neutral point, meaning ETH still has room to grow without getting "overheated." We're on it!
So, if the whales keep accumulating and ETH manages to break that resistance of $2,700, get ready to see fireworks. The combo of low supply on exchanges and bullish technical signals could send us to the moon! Stay alert, my people, because this is getting exciting! 🎉$ETH
