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Ethereum (ETH) has seen a 4.6% price surge to $3,380, driven by weaker-than-expected CPI data and robust market activity. Key insights:
Whale Activity and Market Trends
1. A giant whale deposited 20,000 ETH ($67.6 million) into Kraken, sparking discussions about large-scale investor activity.
2. Ethereum's price has moved within a range of $1,500 to $4,500 over the past year, demonstrating both bullish and bearish phases.
Technical Analysis
1. ETH's recent rally tested a strong resistance level at $3,400; breaking past this level could pave the way for a challenge to the $3,500-$3,600 range.
2. Ethereum has been trading above its 50-day and 200-day moving averages.
Network Resilience
1. Ethereum's active addresses have seen a steady uptick over the last few months, demonstrating strong participation across the ecosystem.
2. Periods of rising active addresses have often coincided with price rallies. 3 replies
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