Ethereum Hits 25,425 ETH

Three new wallets on the Ethereum network purchased 25,425 ETH, spending a total of 50.04 million DAI. The average purchase price was $1,968. The wallets are believed to be connected, but the individual or institution behind the purchase is unknown. This acquisition coincided with a period when Ethereum was attempting to break through significant technical resistance levels. Such a large purchase with new wallets suggests that institutional investors may have entered the market. Ethereum has recovered in recent weeks following a decline in June, with prices settling above the 20-day and 50-day exponential moving averages. The current technical threshold is the 100-day exponential moving average, which lies between $1,935 and $1,970. Buyers are trying to convert this area into a support zone. If there is a daily close above this average, a bullish scenario may find support. The next resistance is around the 200-day exponential moving average at approximately $2,180. The RSI indicator has risen to the mid-60s but has not yet entered the overbought territory. It will be monitored whether the price can remain above the 100-day average. If this area is maintained, the likelihood of a new move towards $2,180 may increase.

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.