Ethereum

Bitcoin

<p><strong>The crypto market</strong> has revived optimism among investors for some time now. Most major cryptocurrencies, such as Bitcoin, <strong>Ethereum</strong>, and XRP, have recorded significant gains over the past four weeks. For Ether (ETH), on-chain and technical indicators suggest the <strong>imminent arrival of a major bullish wave</strong>.</p>
<h2 id="h-positive-signals-from-on-chain-indicators">Positive signals from on-chain indicators</h2>
<p>After hitting critical support around $1520 in October, <strong>Ethereum (ETH) has bounced back</strong> by over 30% so far. Currently, the price of Ethereum is at $2,020 on Binance.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"1M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"1M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/ETHUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">ETHUSD chart</span></a> by TradingView
 </div>
</div> 
<p>This increase is part of a major crypto market recovery, led by Bitcoin, which is now reaching $38,000. For Ethereum, the current rise appears to be the <strong>beginning of the long-awaited bull run</strong>, as <strong>on-chain indicators suggest further upward movement</strong>.</p>
<p>According to data from IntoTheBlock, <strong>the amount of crypto sent to exchanges for selling purposes is lower than the outflows over the past 7 days</strong>. Let’s look at the chart below:</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="369" src="https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum-1024x369.jpg" alt="Crypto - chart showing net inflow on Ethereum - source: IntoTheBlock" class="wp-image-647457" srcset="https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum-1024x369.jpg 1024w, https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum-300x108.jpg 300w, https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum-768x277.jpg 768w, https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum-1536x554.jpg 1536w, https://www.cointribune.com/app/uploads/2023/11/net-inflow-ethereum.jpg 1852w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em>Chart showing net inflow on Ethereum – source: </em><a href="https://en.coin-turk.com/ethereum-eth-signs-of-momentum-building-as-investors-accumulate/" target="_blank" rel="noopener noreferrer nofollow"><em><em>IntoTheBlock</em></em> / <em>Coin-Turk </em></a>
 </figcaption>
</figure>
<p>We can see that <strong>investors have transferred 263,520 ETH</strong> from crypto exchange wallets to cold wallets between November 3rd and November 9th. These transactions thus suggest <strong>accumulation by long-term investors</strong>.</p>
<p>This indicates that, as <strong>the price of Ethereum rises</strong>, some investors choose to accumulate more. The total value of these purchases is around half a billion dollars, calculated at the average price. With a cumulative trading volume of about 50 billion, this is <strong>particularly exciting accumulation</strong>.</p>
<h2 id="ethereum-crypto-price-predictions">Ethereum Crypto Price Predictions</h2>
<p>On October 8th, the total value of ongoing investments in Ethereum was $4.2 billion. Today, it has reached more than $5.42 billion, indicating <strong>a steady increase in prices in the short and medium term</strong>.</p>
<p>After consolidating in the range between $1867 and $1766, Ethereum has finally made a major breakthrough. On the daily chart, a <strong>significant increase in price</strong> can be observed, nearing the annual high of $2138. This level could play a major resistance role for the second-largest cryptocurrency by market capitalization.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="452" src="https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse-1024x452.jpg" alt="Crypto - Technical analysis on Etherem D1 - source: TradingView" class="wp-image-647460" srcset="https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse-1024x452.jpg 1024w, https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse-300x132.jpg 300w, https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse-768x339.jpg 768w, https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse-1536x678.jpg 1536w, https://www.cointribune.com/app/uploads/2023/11/etherum-crypto-analyse.jpg 1721w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em>Technical analysis on Etherem D1 – source: TradingView</em>
 </figcaption>
</figure>
<p>If Bitcoin maintains its current trajectory, <strong>Ether (ETH) could possibly reach a new annual high of $3000</strong>. However, caution should be exercised due to potential profit-taking from investors who bought in since $1520. IntoTheBlock also indicates that <strong>73% of Ether holders are in profit at the current price</strong>.</p>
<p>However, positive signals from on-chain indicators and technical analysis suggest further upward movement for this cryptocurrency. <strong>What will be the next target for Ethereum (ETH)?</strong></p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>

Massive accumulation on Ethereum: Heading Towards New Heights!

Table of Contents

Cointribune EN

Other articles published on Nov 10, 2023

Future Contracts

7 Good Reasons to Attend Sigma Europe 2023

India tightens control with 3,000 police officials trained in crypto investigations

Zcash

Cryptography

[9C M] Monthly Newsletter - Nov 2023

Join our free newsletter for daily crypto updates!