ETHEREUM accumulation has a high log – does ETH explode beyond $ 3,000? star-news.press/wp

• ETHEREUM accumulation addresses have reached the highest level ever at 22.8 million ETH
• ETH must penetrate the main resistance levels before a crowd confirmation to $ 3,000

While the lights are still on Bitcoin (BTC) and kidney novels, ETHEREUM (ETH) flashes strong signals on the chain and accumulation. These may hint on a big step on the horizon.

Thus, the question – is ETH preparing for a summer gathering, or will he need more fuel before he can really take off?

Ert accumulation high

The ETHEREUM accumulation headlines – the governor that only receives eth and never spend – quietly 22.8 million souls – is a historical high.

In fact, the data confirmed an equal increase in the total balance that these governor maintains. This, although the ETH price remains much lower than ATH.

Source: Cryptoquant

This can be considered as a sign of condemnation between LTHS, and many of them appear to put themselves before a big step.

It is worth noting that this level of accumulation dwarfs previous sessions and may continue to accelerate until July – which alludes to a summer gathering that is likely to be explosive if historical trends are run again.

Is Altseason on the horizon?

Ethereum has just registered the largest number of transactions since early 2023, exceeding 1.5 million daily transactions.

Such an increase in activity on the chain Meaning Network transplantation is the use and high speculation; Often an introduction to difficult momentum.

Source: Cryptoquant

Interestingly, this comes on the back of the stablecoin market Hover near Historical resistance levels that are characterized by the main cycle sessions in 2019, 2020 and 2021.

Source: x

Usually, the rejection of this level has turned the capital to more dangerous assets; Starting Altseason. If ETH collapses higher as stablecoins decline, we may look at the early signs of the broader altcoin gathering.

As one user on Twitter Put it,

“Smart money (whales) accumulates as it has not happened before. Activity on the series flourishes … We have all the ingredients for the most crazy summer of coding.”

Can Ethereum reach $ 3,000?

Despite the strong accumulation and a rise in transactions activity, Ethereum still faces some technical obstacles.

At the time of writing this report, ETH was trading near $ 2.46,000, holding less than 50 days and 200 days-main resistance levels. The relative strength index hovers about 49, while MAC showed signs of flattening after the prolonged rolling difference.

Source: TradingView

OBV was weak, reflecting the limited purchase pressure.

However, with the foundations of green and vibrant signs flashing to Altcoin’s rotation, it can open a break above $ 2.6 thousand doors quickly to 3 thousand dollars. If ETH can overcome the current trend resistance.