Ether Lee has recently attracted attention after reaching the highest level since November 2021, and has shown amazing elasticity after a few weeks of massive prices. The rally caused intense debate throughout the market, and the analysts were divided into the next movement of Ether Leeum. Some people argue that deeper correction is inevitable after such an aggressive running, while others believe that ETH is more collapsed than ever.
The warm chain data continues to add fuel to the discussion. According to lookonchain, Ether Rim Foundation Link Wallet 0xF39D has sold 7,294 ETHs worth about $ 33.5 million over the last three days. The average selling price is $ 4,558, which emphasizes the trust of ethics just below the main resistance. In particular, such a wallet has a market timing history of accumulating 33,678 ETH for $ 1,193 in June 2022.
Despite these sales activities, the bull is optimistic and refers to powerful institutional demand and continues to shine as a shiny driver. As ETH gets closer to critical resistance, you can define whether the market has faced a sound correction for the next week.
Smart Money moves around Ether Leeum
Ether Lee's latest price behavior was accompanied by significant chain activities, especially one wallet attracted the attention of analysts. According to lookonchain, Ethereum Foundation-Minded address 0xf39d has gained a reputation as a remarkable strategic merchant. In June 2022, when the market became deeper, the wallet accumulated about $ 42 million at $ 1,193 with an average entry price. The movement alone emphasized the long -term beliefs and the exact timing of institutional market participants.
The same wallet has recently sold more than 7,000 ETHs, which has recently been nearly $ 4,500. This kind of activity emphasizes the role of “smart money” in forming the market cycle of Ether Leeum, and often placed ahead of a wider trend. These sales time argued, especially as the highest level of 2021 and the analysts were divided into wider prospects.
In some cases, it suggests that these transactions may be close to the end of the current cycle as Ether Lee Rium takes signalism, which is strengthened. Others argue that despite short -term volatility, ETH is in the early stages of optimistic stage due to institutional inflow, adoption of ETFs and reduction of exchange supply.
In this volatility and uncertainty environment, wallets such as 0xF39D act as a core reference point, and you can see how the experience of the experience is exploring the complex price structure of Ether Leeum. It is one of the most urgent questions in the market whether this is a local top or simply a pause before it gains additional profits.
ETH price behavior analysis: test support
Ether Lee's daily chart emphasized a strong rally and went back to the highest level of nearly $ 4,800. Until July and early August, ETH is currently integrating $ 4,420. Despite this fullback, the wider structure is still optimistic.
The 50 -day moving average (blue line) continues to rise to provide dynamic support near $ 3,480. Meanwhile, the 100 -day (green) and 200 days (red) moving average is much lower to $ 3,012 and $ 2,564, respectively, showing how much this movement has expanded. ETH is much higher than this long -term average and confirms that bulls still control the amount of exercise.
This return is similar to a healthy correction, so the market can be able to digest and reset the market before the next move. If ETH exceeds $ 4,200 to $ 4,300, this level can be based on another promotion for $ 4,800- $ 5,000.
Disadvantages, relaxation of less than $ 4,200 can open the way to the support area of 3,800 to $ 3,900, which is consistent with the moving average increase. Overall, ETH remains an optimistic trend, and the crystal looks more like a pause than the reversal.
DALL-E's main image, TradingView chart
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