base-pidgin

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.

Exciting times for ETH! If it breaks $3,400, the momentum could push it higher. Watching whales closely for more moves. 🚀