🚀 Ethereum Price Rebounds After Hitting Key Whale Cost Level
#Ethereum #ETH #WhaleInvestors #OnChainData #EthereumPrice #CryptoRebound #WhaleWallets #BlockchainAnalysis #ETHPriceSupport #MarketTrends #CryptoInvesting #ETHAccumulation
According to ChainCatcher, recent on-chain data indicates that the price of Ethereum (ETH) has rebounded three times after reaching the average holding cost of a specific group of whale investors. This metric tracks whale wallets that meet certain criteria: a single purchase of 100+ ETH, at least two purchases, no sales, a current balance of 100+ ETH, and excludes addresses associated with centralized exchanges.
The data reveals that whenever the price hits this cost line, there is a significant peak in buying activity from these addresses. Since November 21, when the price first reached this level, these whales have accumulated over 4.8 million ETH, accounting for 4% of the circulating supply, with their balance increasing from 22.4 million to 27.2 million ETH.
If this support level is breached, the overall market realized price of approximately $2,300 could serve as another support. On-chain analysis suggests that prices below the realized price are considered relatively cheap and attractive to investors optimistic about future market prospects.#Ethereum #ETH #WhaleInvestors #OnChainData #EthereumPrice #CryptoRebound #WhaleWallets #BlockchainAnalysis #ETHPriceSupport #MarketTrends #CryptoInvesting #ETHAccumulation