- Ethereum rose by 5%and broke the most important resistance as the activity on the chain and whale accumulation increases.
- The influx of the exchange rose, but the price strength suggests that the underlying demand may absorb the profit pressure.
Ethereum [ETH] has been central again and increased 5% in a decisive breakout that Bitcoin has surpassed!
While we are looking for clues to gauge or this momentum is sustainable, the data offer valuable insights into what drives the rally and where ETH could then be led.
The momentum of Ethereum builds
The price promotion of Ethereum gives attention again. After briefly immersing, ETH organized a strong recovery, climbing almost 5% in a single day and closes decisively above his recent resistance near $ 2,730.
Source: TradingView
On 27 May, the daily map of Ethereum showed a bullish -flooding candle, followed by consistent green candles, which indicates a strong up -up momentum.
In contrast to Bitcoin, who registered a decrease of 2.86%, the trend of Ethereum wins on the traction, supported by rising volatility, which makes it stand out in the market.
Stir whales while the activity peaks
Source: Santiment
Activity on the chain on the Ethereum network rose sharply in mid-May, while daily active addresses climbed to more than 500K.
Source: Santiment
The increase in demand was not limited to retail investors ballets with 10,000 to 100,000 ETH considerably increased their participations during the rally, and signal the renewed confidence of medium-sized whales.
In the meantime, the largest portfolios (1 million -10 million ETH) reduced their participations by 29 May, which indicates redistribution or profitable.
The combination of rising address activity and selective whale accumulation indicates that the network is gaining strength, with smart money positioning for important catalysts.
Delivery of shifts and sentiment
At the beginning of May the price of Ethereum broke more than $ 2,200 and continued to climb to $ 2,700, but the influx of the exchange also put a point – a remarkable shift into the behavior of investors.
Historically, rising inflow suggests growing sales pressure, especially in combination with a price rally.
Source: Cryptuquant
The increase in deposits suggests profitable or covering by holders in the short term.
However, the persistent price climbing despite this inflow indicates a strong underlying question, so that the sales pressure of institutions or investors is probably included in the long term.
If the inflow persists without disturbing the upward trend, this may indicate an adult rally, driven by deep liquidity instead of short -term speculation.