Ethereum Whales Don Buy Over $400M, Dem Say Na Bullish Trend
Ethereum whales don collect over $400 million worth of ETH for early August, two big wallet dem buy $300 million through Galaxy Digital’s OTC desk, while SharpLink come add 30,755 ETH (~$108.6 million) at average price of $3,530. Dis strategic move dey show say crypto traders confidence dey increase. On-chain data reach two-year high of 931,000 daily active addresses for Ethereum network, supported by price wey dey rally pass $3,900, institutional inflows wey dey rise, plus more DeFi activity. Technical analysis show falling wedge for the 4-hour chart with target around $5,470, as RSI dey recover at 47.7 and bullish MACD crossover happen, wey mean new momentum dey come. All these bullish signs join with whale accumulation, mean say Ethereum fit continue e upward trend go near $6,000.
Bullish
Ethereum whale dem dey gather crypto show say institutional confidence dey and e fit support price well well, dis one follow wetin happen for past wen whale dey buy before big rally for 2021 and 2023. Na record on-chain activity show say more people dey use network and DeFi, dis one make fundamentals strong. Technical analysis sef dey support dis as e be: for 4-hour chart falling wedge pattern dey usually lead to breakouts, plus RSI recovery and MACD crossover mean say buying momentum fresh again. All dis combined mean say price fit go up sharply short-term towards $5,500–$6,000. For long term, if whale interest steady and on-chain use increase, price fit still go up more and market fit stable for long-term investors. Traders fit consider to buy or dey accumulate small small during minor pullbacks, plus dem go dey watch the main support near $3,300.