Ethereum Network Awakens—Massive On-Chain Moves Signal What’s Coming
Ethereum has seen significant accumulation by long-term holders, with nearly 30 million ETH in wallets that have never spent any coins, marking an all-time high. This accumulation occurs despite Ether trading below its peak, indicating investor confidence in a potential rally. The rate of ETH entering cold wallets has increased sharply, suggesting a price surge may follow, as historically, such behavior precedes market movements. Daily Ethereum transactions have reached over 1.5 million, the highest since early 2023, indicating growing user engagement and demand. Currently, ETH trades near $2,460, facing resistance at the 50-day and 200-day moving averages. Momentum indicators show caution among big buyers, with the RSI at 49 and low on-balance volume. A price breakout above $2,600 is necessary for bullish momentum towards $3,000; otherwise, major holders may face losses.
