Ethereum Whales Stirring As ETH Hits Fresh 8-Month High: What’s Brewing Next? 🕷️🌑

ETH just spent weeks battling that key $2,500 resistance but the largest altcoin went wild on Friday and blasted right past it hitting its highest level since late January at $2,660 before getting halted. The 8% move hit super sudden within like an hour sparking tons of questions in the community about who was really behind it and what’s coming next lol.

Whales Stirring Up The Surge? 🐋

Data from popular analyst Ali Martinez shows Ethereum whales totally helped smash that barrier even if just briefly. Ethereum transactions over $1 million jumped almost 14% during the rally hinting at way more activity from those big players. Within less than two hours the asset made one of its biggest wicks this year climbing from under $2,440 to $2,667 before stopping. The northward surge followed several bullish on-chain signals spotted earlier this week 💀. More than 116,000 ETH worth around $300 million got pulled from exchanges in just 48 hours cutting down the supply ready for trading right away 📈. Martinez also called out $2,475 as a key resistance zone now flipped to support where about 2.86 million ETH changed hands before. His bullish view pointed to a push toward $2,700 once ETH clears $2,530 🌙.

ETH’s Next Move? 🖤

Even after Friday’s wild rally the bears jumped in fast and blocked ETH from passing $2,700 or keeping most gains 😈. It’s now hovering just over $2,500 and the next hurdle might be tougher fr. On-chain info reveals over 10 million ETH bought between $2,720 and $2,820 creating a huge resistance area where holders could dump if prices return to their basis. Risk-on assets like BTC and alts face a big test next week as the Federal Reserve plans to hike rates on September 16. A day before the US Senate votes on the CLARITY Act which could add extra volatility to the mix 💎.

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Just another echo from the void by iconofsin.eth 💖

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