Ethereum price has faced several attempts to break free from the consolidation range it has been stuck in since early August, hovering around $2,700. 

However, a recent rally sparked by Bitcoin’s price increase could continue if Ethereum’s long-term holders (LTHs) maintain their positions rather than selling. This restraint from LTHs would be key in supporting Ethereum’s potential upward momentum.

Ethereum Whales Are Active

Ethereum whales‘ activity has surged to a 14-week high, signaling increased interest among large-scale investors. Over the last week, transactions exceeding $1 million have climbed to 8,482 — the highest since August. Alongside this, whale transaction volume surpassed $10.4 billion, highlighting the importance of these large wallet holders. Their actions often have a considerable impact on Ethereum’s price, providing stability and driving momentum.

“Expect any growth from Bitcoin, during this bull run, to see profits redistribute into Ethereum and potentially push it toward its own all-time high while its network activity looks very healthy,“ says Santiment.

Ethereum’s macro momentum is also influenced by an increase in its “Liveliness” metric, which tracks the behavior of long-term holders. When Liveliness rises, it indicates LTHs are liquidating their positions, while a decrease shows accumulation. The recent uptick in Liveliness suggests that some long-term holders are booking profits amid Ethereum’s price rise, which may sl

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Author: Aaryamann Shrivastava