Los Lookonchain data have revealed that a whale Ethereum bought this Tuesday 23,000 ETH valued at $77 million at a price of around $3,300 per token. Which has excited investors, who have set their sights on the 10,000 dollars facing 2025 according to Coingape.
According to the data, it was recorded that the wallet address 0x6c.. carried out massive accumulation.
It should be noted that this massive purchase took place at an average ETH price of $3,368. Meanwhile, the trading strategy has attracted additional attention, mainly in light of the trader’s previous profit-making strategies. The data indicated that since August 12it was recorded that the same whale performed 25 swing trades on ETH and WBTC. Furthermore, 21 of them were highly profitable, underscoring a win rate of 84% and a profit of $4.57 million.
In light of these past profit generating strategies, market watchers are now looking at the price mark of $3,300as the Ethereum whale pocketed huge amounts at this level, and investors expect gains in the price of the leading cryptocurrency as early as next year.
What’s next for ETH?
At the time of reporting, ETH price was down approximately 2% intraday and trading around $3,353. Its 24-hour low and high were $3,298.80 and $3,425.80, respectively. Notably, the decline in price action aligns with the broader trend and a festive sentiment brewing in the broader picture. However, market participants remain optimistic about the asset’s long-term prospects.
A recent ETH price analysis indicated that the token could recover and reach a price level of $10,000 in the future. This bullish prediction comes in the context of historical trends and strong technical factors in the market. As a result, market watchers anticipate phenomenal gains in the asset’s price, with bullish sentiments further supported by massive Ethereum whale accumulation.
However, despite the positive predictions, investors also remained cautious amid recent developments in the market. To put it in context, Justin Sun recently deposited 29,153 ETH into HTXwhich has sparked discussions about the possible motive behind the transfer.
Ethereum It is trading in the green at midday on Tuesday at $3,384. The 70-period moving average is below the latest candles, RSI is up at 44 points and the MACD lines are below the zero level.
Medium and long-term resistance is at $4,107. Meanwhile, Ei indicators are mixed.
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