Ethereum Big Big Dem Dey Gather ETP Money Wey Dey Push Rally Reach $3.4K
Ethereum dey still dey attract strong demand from big big institutions, e don record 11 weeks straight wey net money dey flow enter Ether ETPs, last week alone e reach $225 million. On top dat, on-chain data show say whale dem don hold 9.31% more since October make e pass 41 million ETH. Dis kin dynamics dey match one classic bullish pennant for ETH chart, wey mean say e dey consolidate before break out fit happen.
Technically, Ether don hold above im 20-day EMA for $2,507 and e dey inside symmetrical triangle, with critical support for $2,500–$2,536. If e close well above $2,635, e fit make rally go $2,751, $2,738–$2,879 zone, and even $3,400 by August as per pole measurement. But if e drop below $2,364 triangle support or 20-day EMA, e fit cause risk of pullback go $2,323 and $2,111.
As Ethereum Proof of Stake upgrade dey draw more ETH into staking and spot ETH ETFs fit show for horizon, market foundation still solid. Traders suppose dey watch whale wallet dem, ETP inflows, pennant volume signals and key support levels for proper entry and risk management.
Bullish
Dis news dey show say institutional people dey put money steady for Ether ETPs plus big whales dey gather plenty, both dem dey ginger bullish momentum. Di classic bullish pennant wey form plus key technical levels—20-day EMA support and symmetrical triangle—mean say breakout get high chance. Fundamental tori like PoS staking plus maybe spot ETH ETFs further make di medium-term outlook beta. Short-term, traders fit benefit if price close pass $2,635, while long-term, on-chain plus technical indicators show say pressure go still push up reach $3,400.