The post What’s the Latest on Ethereum? Are the Bulls in? Analyst Explains the Latest Situation appeared on BitcoinEthereumNews.com.

Cryptocurrency analyst IT Tech has provided insight into the current market conditions of Ethereum, explaining the key trends in whale activity and price movements. According to IT Tech, Ethereum’s large trading volume (LTV) remains lower compared to previous bull cycles in 2017 and 2021. This suggests that the market is currently driven more by retail investors rather than institutional-scale transactions that usually signal speculative swings. While small increases in whale activity have been observed, these are not at levels that typically precede a major rally or significant sell-off. However, IT Tech warns that sudden increases in whale transactions are often a sign of impending price changes, making on-chain activity an important metric to watch. Ethereum has successfully reclaimed the $3,000 level, but the analyst notes that a move towards $3,500 and beyond would require rising LTV as confirmation. Without this, Ethereum could consolidate or experience a pullback. IT Tech warns that if whale activity suddenly increases amid price weakness, it could signal dispersion and lead to a correction towards the $2,800-$2,500 range. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/whats-the-latest-on-ethereum-are-the-bulls-in-analyst-explains-the-latest-situation/

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Filed under: News - @ January 30, 2025 4:22 pm