Whales Buy, Dormant Coins Rise — Is Ethereum About To Rally?

Ethereum (ETH) is showing renewed signs of a potential turnaround, despite a slight dip over the past month, as on-chain data suggests a more convincing rebound is forming. Key metrics indicate growing holder conviction: the Spent Coins Age Band has dropped significantly, signaling that fewer coins are circulating and dormant holdings are increasing. Concurrently, whale addresses (holding over 10,000 ETH) have increased their collective stash by 150,000 ETH in 24 hours, suggesting accumulation. This combination of rising dormancy and fresh whale buying creates a stronger base for a price increase. Technically, the Relative Strength Index (RSI) shows a bullish divergence, suggesting the downtrend may be weakening. However, for a confirmed rally, ETH must break critical Fibonacci resistance levels, specifically closing above $4,281 (the 0.618 level); failure to do so could lead to a pullback toward $3,509.

(Source：BeInCrypto)