Ethereum has been under the spotlight lately after reaching its highest levels since November 2021, presenting remarkable resilience after weeks of massive price increases. The rally addressed an intense debate through the market, analysts divided on the next decision of Ethereum. Some maintain that a deeper correction is inevitable after such an aggressive race, while others believe that ETH is ready for a massive escape above its peaks of all time.
The data on the chain continues to add fuel to the discussion. According to Lookonchain, the portfolio linked to the Ethereum 0xF39D Foundation sold 7,294 ETH, worth around 33.25 million dollars in the last three days. The average sale price was $ 4,558, a level that highlights confidence in the realization of profits while the ETH is consolidated just below the major resistance. In particular, this same portfolio has a lot of history of timing of the market, having accumulated 33,678 ETH at only $ 1,193 in June 2022.
Despite this sales activity, the bulls remain optimistic, pointing to a strong institutional demand and registering entries in ETHEREUM as a continuation engines. While the ETH holds close to critical resistance, the coming weeks could define whether the market is faced with a healthy correction – or is preparing for a push in unexplored territory.
Smart money moves in Ethereum
The latest Ethereum prices action was accompanied by an important activity on the chain, and a particular portfolio has drawn the attention of analysts. According to Lookonchain, the 0xF39D address linked to the Ethereum Foundation has built a reputation as a remarkably strategic trader. In June 2022, when the market was deeply in a bearish phase, this portfolio accumulated 33,678 ETH, worth around 40.2 million dollars, at an average entry price of only $ 1,193. This decision alone highlighted the long -term conviction and the precise calendar often awarded to market players of institutional quality.
Quick advance until today, and the same wallet recently sold more than 7,000 ETH near the $ 4,500 mark, capturing massive profits. This type of activity highlights the role of “intelligent money” in the training of Ethereum market cycles, often positioning itself before broader trends. The time of these sales sparked a debate, especially since the ETH hovers below its summits in 2021 and the analysts remain divided on the broader prospects.
For some, these transactions report prudence, which suggests that Ethereum could approach the end of its current cycle as the profits increases. Others support the opposite: that despite short -term volatility, the ETH is at the forefront of an upward phase fueled by institutional entries, the adoption of ETFs and the reduction in exchange in exchange.
In this volatility and uncertainty environment, portfolios like 0xF39D serve as key reference points, offering an overview of how experienced players sail on the structure of the complex prices of Ethereum. Whether it marks a local summit or simply a break before additional gains remains one of the most urgent questions on the market.
Analysis of ETH price action: test support
The daily graphic of Ethereum highlights its solid rally, followed by the recent retraces multi -year summits close to $ 4,800. After a stiff ascent until July and early August, ETH is now consolidating around the $ 4,420 level. Despite this decline, the wider structure remains optimistic.
The 50 -day mobile average (blue line) continues to rise up, providing dynamic support for almost $ 3,480. Meanwhile, the 100 -day mobile medium (green) and 200 days (red) are much less than $ 3,012 and $ 2,564 respectively, showing how extended this decision was. The ETH remains well above these long-term averages, confirming that the bulls always control the momentum.
The retrace looks like a healthy correction, allowing the market to digest the gains and reset before the next movement above. If ETH holds above the area from $ 4,200 to $ 4,300, this level could act as a strong base for another push towards resistance from $ 4,800 to $ 5,000.
Ahead, a break of less than $ 4,200 could open the way to the support area from $ 3,800 to $ 3,900, aligning on the medium of increasing travel. Overall, the ETH remains in an upward trend, the corrections more like breaks than inversions.
Dall-e star image, tradingview graphic
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