Ethereum

2024

Strong

Higher

An experienced trader mastering <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/">Ethereum (ETH)</a> swing trading and winning every single trade showcases admirable market insights yet again. Recently, this trader traded 10,206 $ETH for about $27.8 million and earned a profit of $554,000 in one transaction. 
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 This smart trader with a 100% win rate in swing trading <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> sold 10,206 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($27.8M) 30 minutes ago, making another profit of $554K! He has traded <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> 9 times since Aug 12, making money every time, with a total profit of $2.11M!<a href="https://t.co/n2BRy94suk">https://t.co/n2BRy94suk</a> <a href="https://t.co/UsP30OSGQz">pic.twitter.com/UsP30OSGQz</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1839272672603287884?ref_src=twsrc%5Etfw">September 26, 2024</a>
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This sale was pulled just 30 minutes before the news came out. It is the ninth straight successful trade since August 12. However, from this period, the trader has had total profits of $2 110,000, always buying at the low point and selling at higher price. 
This trader has gained 100% returns and demonstrates a consistent, efficient one that has repeatedly locked on Ethereum price changes. Amidst the high volatility of stock prices, the trader has been able to foresee a given fluctuation in market power. 
He acted accordingly to make hefty profits, thus establishing a precedent for other investors willing to profit from similar volatility. 
The previous profitable sale is backed by a recent market blip. Multiple whales bought $ETH, yet again illustrating the efficiency of swing trading in today’s market. Two other intelligent whales famous for swing trading also joined the market a couple of days before the recent trade. 
They bought Ethereum during a dip. A specific whale with the wallet address 0xe0b5 has made calculated profitable trades worth $1.56 million since August 12. It has won him eight trades. 
In the most recent deal, the whale bought 10,206 $ETH for $26.24 million. He did this using two addresses displaying aggressively bullish large trader sentiments. 
<h2 class="wp-block-heading" id="h-ethereum-s-strong-weekly-performance">Ethereum’s Strong Weekly Performance</h2> 
Ethereum has risen in the past week, with a market appreciation of 7.3% in price. Currently, the cryptocurrency is at $2,654.90 of its value, rising by 1.46% within the last day. The price of Ethereum has also gone up. 
However, this was coupled with exceptionally increased trade volumes. The volume was 21.93% up at $17.23 billion at the same time. This increase in volume implies active market participation. 
Higher participation is prompted mostly by strategic acquisitions from retail and institutional investors. Ethereum has a market value of $319,555,258,759, making it the second most valuable cryptocurrency team with <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a> in terms of market cap. 
Currently, the volume-to-market capitalization ratio is comfortable at 5.37%. This indicates that XOM has good liquidity and that many investors are still willing to own stocks in this company. It is in line with the general market trend, where both positive sentiment and trading whales push the price up. 
The continued accumulation by several key trading personalities indicates long-term bullishness for Ethereum. The market remains stable, although the identified prices have recently fluctuated. This is further supported by the increased activity in the trading platforms, where there is notable buying after a short-term pullback. 
<h2 class="wp-block-heading" id="h-technical-analysis-of-ethereum">Technical Analysis of Ethereum</h2> 
Focusing on Ethereum’s technical factors, we see that the price is above the 50, 100, and 200 SMAs. Significantly, the Relative Strength Index (RSI), a leading momentum indicator, is 59.74. This level indicates that <a href="https://www.thecoinrepublic.com/2024/09/25/can-ethereum-hit-10000-in-2024-erc20-token-raboo-prepares-for-top-20-breakthrough/">Ethereum</a> is approaching the overbought state, but the upward movement might continue. 
RSI below 70 suggests the asset can still move further upward before entering the overbought zone, resulting in short-term pullbacks. 
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4-hour ETH/USD Chart | Source: TradingView 
Also, recent price moves indicate that Ethereum is struggling to penetrate the resistance level of around $2,660. Should the price push above this level, the possibility of going higher will likely prevail, with traders setting targets around $2700. 
The post <a href="https://www.thecoinrepublic.com/2024/09/27/ethereum-surges-almost-10-in-a-week-as-whales-rake-profits/">Ethereum Surges Almost 10% In A Week As Whales Rake Profits</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Ethereum Surges Almost 10% In A Week As Whales Rake Profits

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