$ETH

Ethereum Price Forecast: Accumulation addresses capture 1.11 million ETH as bullish momentum increases.

Ethereum Price Forecast: Accumulation addresses capture 1.11 million ETH as bullish momentum increases

Ethereum price today: $1,760

Ethereum accumulation addresses have bought more than 1.11 million ETH in the last week.

The constant decrease in the net volume of ETH takers indicates that short traders are experiencing seller exhaustion.

Ethereum exchanges saw net inflows of 178,900 ETH on Thursday, as investors secured profits from their recent price increase.

ETH bears continue to apply pressure at $1,800 and the 50-day SMA hurdle.

Ethereum (ETH) saw a 1% drop on Friday, as sellers dominated activity on exchanges in the last 24 hours. Despite the recent sell-off, the increase in inflows to accumulation addresses and the decrease in net volume of takers show a gradual return of bullish momentum.

Ethereum accumulation addresses dominate despite recent selling pressure

Ethereum accumulation addresses — a metric that tracks addresses that have never spent funds — have shown greater confidence in the last week, seeing inflows of more than 1.11 million ETH between April 17 and April 23. Almost half of the inflows occurred after Tuesday's price increase.