The post Whale Activity Indicates Massive Price Moves Ahead for Ethereum – Will ETF Inflow Skyrocket Ethereum Price Prediction? appeared on BitcoinEthereumNews.com.

However, this influx coincided with a 16% price drop from the previous week’s high of $4,100.  In the past weeks, Ethereum-focused exchange-traded funds (ETFs) attracted over $2.5 billion in inflows. Additionally, a whale associated with Nexo transferred 4,946 ETH (approximately $17.2 million) to Binance, which could indicate a strategic repositioning move. New projects like PlutoChain ($PLUTO) could also capture attention in the upcoming weeks. PlutoChain might enhance the Bitcoin network by introducing a hybrid Layer-2 solution that integrates smart contracts and decentralized applications. Let’s get into the details. Technical Data Shows Big Potential for Ethereum – Will ETF Inflows Boost Price Predictions? As of January 8, 2025, Ethereum (ETH) is trading at approximately $3,346, reflecting a 3.5% decrease over the past 24 hours. This decline follows a recent surge to a three-month high of $3,650, driven by optimistic regulatory outlooks under the Trump administration and inflows into newly launched spot Ether exchange-traded funds (ETFs). The introduction of these ETFs has led to major capital inflows. In December, Ether ETFs experienced 17 consecutive trading days of inflows, with total holdings reaching a record high of 3.5 million units. Regulatory clarity around staking-related ETFs for Ethereum might come soon and this could be a major step forward. These ETFs could provide exposure to staking rewards and address a gap in current offerings. Technical analysis indicates that Ethereum has recently broken out of a six-month descending channel, suggesting potential for further gains. Key resistance levels are identified at $3,650 and $4,090, while support levels to monitor include $3,250, $2,950, and $2,720. The 50-day moving average stands at $3,586, above the 200-day moving average of $2,991, forming a ‘golden cross’ that typically signals bullish momentum. Whitney Grenaway predicts that Ethereum could surpass $5,000 during this bull run, reaffirming its market dominance, while she continues…

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Filed under: News - @ January 10, 2025 1:13 am