Ethereum Whales Accumulate 140,000 ETH as ETF Inflows Reach $101 Million
- Whale Accumulation: Between May 1 and May 3, major investors accumulated over 140,000 ETH, valued at approximately $322 million, which increased the total holdings of large wallets from 13.83 million to 13.98 million, indicating strong market confidence in Ethereum.
- ETF Inflows Rebound: On May 1, institutional interest in Ethereum-based ETFs revived, with a net inflow of $101.2 million, primarily into BlackRock's ETHA product and Fidelity's FETH fund, attracting $43.2 million and $49.4 million respectively, signaling a renewed focus from large funds on Ethereum.
- Price Range and Resistance: Order book data reveals significant sell-side liquidity in the $2,350 to $2,500 range, with $2,400 identified as a strong resistance level; analyst Ted Pillows suggests that Ethereum will continue to trade sideways unless it secures a sustained close above $2,400.
- Market Constraints and Leverage Risk: The total open interest in the market is nearing $30 billion, with derivatives trading volume reaching $18 billion in the last 24 hours, while spot trading remained under $1 billion, indicating that leverage use is growing faster than actual market demand, heightening the risk of price volatility.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 4 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2037.115 | 2128.738 | 2221.125 | 2312.748 | 2405.135 | 2496.758 | 2589.145 |
| Fibonacci | 2128.738 | 2199.029 | 2242.456 | 2312.748 | 2383.039 | 2426.466 | 2496.758 |
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