Ethereum

Shiba

Shiba Inu

Billion

<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27.png" class="attachment-full size-full wp-post-image" alt="Ethereum price chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27.png 2710w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
<p class="p1">Ethereum price has been bullish since the pullback to $1,900 earlier this week which had been triggered by the saga surrounding the ouster of the <a href="https://coingape.com/doj-set-to-announce-major-crypto-enforcement-actions/"><span class="s1">founder and the CEO of Binance</span></a>, Changpeng Zhao. Most cryptos rolled back as investors reacted to the developments at the largest crypto exchange by volume.</p> 
<p class="p1"><span class="s1"><a href="https://coingape.com/markets/bitcoin-to-springboard-to-42k-as-btc-spot-etf-approval-beckons/">Bitcoin price</a></span>&nbsp;has since recovered from the dip to $35,650 and is trading at $37,843 at the time of writing. The second-largest crypto Ethereum, up 2% in the last 24 hours is trading at $2,104 considering the cumulative 7.1% increase in one week.</p> 
<h2 class="p1" id="eth-price-on-the-bullish-offensive-bolstered-by-whales-on-a-buying-spree">ETH Price On The Bullish Offensive Bolstered By Whales On A Buying Spree</h2> 
<p class="p1">Ethereum price was able to uphold support at $1,930 backed by immense interest in the leading smart contracts token from whales. According to crypto analyst @ali_charts who shared the IOMAP chart from IntoTheBlock, “Ethereum overcame key resistance zone between $1,982 and $2,044.” Approximately 1.67 million addresses purchased 38.7 million ETH.</p> 
<p class="p1">The up leg will likely extend toward $2,500 due to the reducing resistance and a strong support zone between $1,982 and $2,044. Holding above this demand area could propel Ethereum price to rally to new yearly highs.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> overcame a key resistance zone between $1,982 and $2,044. Here, 1.67 million wallets acquired 38.7 million <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>.</p> 
 <p>With minimal resistance ahead and solid support below, remaining above this demand area could pave the way for <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> to reach new yearly highs. <a href="https://t.co/mrSKls9N4M">pic.twitter.com/mrSKls9N4M</a></p> 
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1727992448499028418?ref_src=twsrc%5Etfw">November 24, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p class="p1">Data from the same blockchain analytics platform IntoTheBlock and shared on X (formerly Twitter) by @C_thumbs revealed that more than 500k ETH has been transferred from exchanges to non-custodial wallets in 30 days. This marked the highest level in three months, bringing total outflows in dollar value to $1 billion in only three weeks.</p> 
<p class="p1">“On November 22nd alone, $ETH had a netflow of -148.5k ETH at an average price of $2011. The last time a large netflow like this occurred was on October 30th, after which the price increased 19%,” data by IntoTheBlock paints a bullish picture.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Ethereum has crossed the $2000 mark with a significant volume backing its movement. </p> 
 <p>Data from <a href="https://twitter.com/intotheblock?ref_src=twsrc%5Etfw">@IntoTheBlock</a> shows that over 500k ETH has left exchanges for non-custodial wallets this month, which is the highest amount in 3 months. This brings the total outflows to $1 billion in… <a href="https://t.co/nUY52QnM5m">pic.twitter.com/nUY52QnM5m</a></p> 
 <p>— C_THUMBS || ₿ || (@C__thumbs) <a href="https://twitter.com/C__thumbs/status/1727758224403665115?ref_src=twsrc%5Etfw">November 23, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p class="p1">The support&nbsp;<a href="https://coingape.com/price/ethereum/"><span class="s1">Ethereum price</span></a>&nbsp;is receiving shows that it is profitable for investors and traders to take advantage of the dips, which are proving to be highly profitable.</p> 
<p class="p1">Santiment, another leading blockchain data platform, reported on November 22 that approximately 200 largest Ethereum wallets currently hold a combined 62.76 million ETH with a dollar value of around $124.1 billion, with a third of these tokens accumulated in the last year since November 21. This cohort of holders accounts for at least 52% of Ethereum’s available supply.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;"> Ethereum Whales on a buying spree! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/santimentfeed?ref_src=twsrc%5Etfw">@santimentfeed</a> reports that the 200 largest Ethereum wallets now hold a combined 62.76M <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, currently worth $124.1B! They have accumulated 30.3% more coins since November 21, 2022 and now command 52% of Ethereum's circulating supply! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>— OneArt (Crypto &amp; NFT Wallet) (@art_wallet) <a href="https://twitter.com/art_wallet/status/1727371388410064908?ref_src=twsrc%5Etfw">November 22, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 class="p1" id="ethereum-price-at-a-crossroads">Ethereum Price At A Crossroads</h2> 
<p class="p1">The four-hour chart shines a light on the current technical situation, where&nbsp;<a href="https://coingape.com/ethereum-crosses-2000-amid-increasing-whale-accumulations/"><span class="s1">Ethereum price is facing resistance</span></a>&nbsp;from a likely double-top pattern. Therefore, higher support, as established from the fundamental aspect of the market, is paramount for the continuation of the uptrend to $2,500.</p> 
<figure id="attachment_165945" aria-describedby="caption-attachment-165945" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27.png"><img decoding="async" class="size-full wp-image-165945" src="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27.png" alt="Ethereum price chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27.png 2710w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-24_16-27-27-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"></a>
 <figcaption id="caption-attachment-165945" class="wp-caption-text">
  Ethereum price chart | Tradingview
 </figcaption>
</figure> 
<p class="p1">If Ethereum price bows to selling pressure due to the double-top pattern a swing low could follow to sweep liquidity possibly as far as $1,900 ahead of the next breakout.</p> 
<p class="p1">However, the Relative Strength Index (RSI) reveals that buyers have the upper hand. With a strength of 66 and still trending north, a return to the overbought region is plausible and could invalidate the bearish theory for a quick rebound above $2,500.</p> 
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<p>The post <a rel="nofollow" href="https://coingape.com/markets/ethereum-price-targets-2500-as-exchange-outflows-hit-1-billion-in-3-weeks/">Ethereum (ETH) Price Targets $2,500 As Exchange Outflows Hit $1 Billion In 3 Weeks</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

Ethereum (ETH) Price Targets $2,500 As Exchange Outflows Hit $1 Billion In 3 Weeks

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