Ethereum (ETH), the world’s second-largest cryptocurrency, has made a powerful surge to the north, increasing its weekly gains by 15% and surpassing $3,000. ETH is currently trading 6% higher at $2,945 with a market valuation of $353 billion as of press time.
For the first time in three weeks, whales have become active once more. Santiment, an on-chain data supplier, reports.
Source : Santiment
Ethereum (ETH) has managed to break over the resistance trendline for the first time this year, thanks to a recent price spike. As a result, any push above $3,000 with high volumes will aid to breach the psychological barrier, and we may see the uptrend resume.
Furthermore, according to data from IntoTheBlock, huge ETH outflows from exchanges have occurred this week in expectation of strong positive price action.
The greatest single-day outflow for 2022 occurred on Friday, March 18, when exchanges recorded a stunning 180K outflow. The last time similar outflows were documented, ETH saw a 15% increase in the following ten days.
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