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Ethereum has once again shown that institutional interest in it is still strong. FalconX has transferred 78,891 ETH, valued at $358 million, to four new wallets that may be connected to BitMNR over the last 30 hours. These massive transfers highlight the reality that institutions and whales are still covertly amassing ETH, even though individual traders may be hesitant.
ETH stays consolidated
Following a rally that saw it rise from sub-$3,000 levels only months ago, ETH is currently consolidating at around $4,580 on the price chart. Ethereum has escaped a sharp correction, staying well above its 20-day EMA at $4,290, in contrast to many other altcoins. This tenacity demonstrates how consistent demand is driving its upward trajectory.
The momentum is still very bullish. With the RSI hovering just above 60, which indicates strength without displaying overbought warnings, there is potential for another upward push. Based on the current structure, ETH may retest $4,800 and possibly move toward the psychological $5,000 mark as long as it stays above the $4,200-$4,300 support zone. The volume has also remained comparatively high in comparison to the beginning of the year, indicating robust market participation.
Institutions push more
An important background here is provided by institutional flows, such as the FalconX transfers. They serve to mitigate downside risks by demonstrating that demand is still robust at higher levels, in addition to reaffirming Ethereum’s standing as a long-term strategic asset. This stands in stark contrast to Bitcoin, which has recently faltered around $110,000 and has had difficulty keeping up its momentum.
In summary, Ethereum is thriving rather than merely existing. Ethereum’s case for reaching new heights is becoming stronger every day as institutional wallets take in hundreds of millions of ETH, and technical indicators show continued strength. The underlying trend indicates that Ethereum is not dying but rather getting ready for its next chapter above $5,000, even though volatility will always be a part of the story.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team