A new Ethereum whale recently bought 18,000 ETH. Is it a sign that ETH’s rally will continue?
Ether (ETH) demonstrated a strong 29% impulse move last week as it broke above $3,000 for the first time since August. However, its bullish momentum has slowed despite Bitcoin (BTC) moving by 13% over the past few days.
Ethereum 1-week chart. Source: TradingView
While Ethereum has been up by only 0.66% since Nov. 11, data suggests that whales are evaluating its current price point as a window of opportunity for long-term accumulation.
