HomeNewsWhale Activities Propel Ethereum Towards $3,700: Key Indicators of Upcoming Bull Run

Whale Activities Propel Ethereum Towards $3,700: Key Indicators of Upcoming Bull Run

- Advertisement -
  • Stochastic RSI suggests Ethereum is in the oversold zone, indicating potential for upcoming bullish trend.
  • Despite market liquidations, Ethereum’s strong whale support showcases confidence in its long-term value.

Ethereum, a leading cryptocurrency, is on a trajectory toward a $3,700 resistance level, following a significant recovery in its market price. Over the past week, Ethereum has seen a 6% rise from a low of $3,381, with current trading figures pointing to an average price of $3,527. This uptick accompanies a notable 14% increase over the last 30 days.

Source: Tradinfview

Market analysts attribute this positive movement to increased activity from large-scale investors, commonly known as whales. Data from Santiment reveals a substantial spike in whale transactions on June 18th, with over 1,400 transactions recorded. This surge aligns with Ethereum’s price increases, indicating robust accumulation by these investors during the recent price dip.

Ethereum’s market resilience is further underscored by its substantial trading volume and market cap, which currently stands at $19.5 billion and $433 billion, respectively. Additionally, the stochastic RSI—a momentum indicator—signals that Ethereum is in the oversold zone, suggesting a potential shift toward a bullish market trend.

Source: Santiment

Despite broader market liquidations, Ethereum maintains strong investor commitment, particularly from whales who have sustained significant long positions worth $43.57 million in the last 24 hours. Such sustained interest from large investors suggests a continued belief in Ethereum’s long-term value and stability.

The balance Between Long and Short Positions also Reflects Market Optimism

While there was a period of stagnation, recent spikes in long position data from Coinglass’s liquidation heatmap indicate that investors holding long positions are currently dominating the market.


Looking ahead, the robust activity of whale investors coupled with strong market hints that Ethereum’s bullish momentum might persist. If these trends continue, the anticipated resistance level of $3,700 could soon be tested.

Source: Coinglass

However, as with all cryptocurrency markets, volatility remains a factor, and a bearish turn is still within the realm of possibilities.

Investors and market watchers will continue to monitor these developments closely, as Ethereum’s performance in the coming days could set the tone for its trajectory in the near term.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628