I - Onchain data from 52Hz Onchain (in Vietnamese)I translated the 52Hz Onchain's post from Vietnamese to English, with refinements and explanations of crypto market slangs. I will present text + images so we can view, quote and discuss more easily. I think this is better than sending a simple link.SmartWhale withdrew 2,388 ETH ($8.5M) from Binance
[1].
Before that, SmartWhale transferred 19M USDT to Binance, perhaps a part of USDT was used to buy ETH when ETH price adjusted yesterday.
In the past, this address has started to accumulate a lot of ETH in the $1.9K-$2.2K price range, which is also the price range where Wall Street whales started buying OTC on Coinbase Prime.
With this continuous accumulation, SmartWhale is holding up to 20,548 ETH ($73M), and is currently continuing to accumulate more, showing that they are quite bullish on ETH.
After the successful Dencun Upgrade, the Rumor ETH ETF will be the catalyst that helps ETH grow strongly in the near future.
II - Technical analysis (Weekly chart)Both the RSX and MACD indicators confirm the upward trend of ETH price, there is no signal of a reversal from increase to decrease yet. At the same time, after DenCun, the positivity from BTC Halving and ETH Spot ETFs is strongly supporting market sentiment, which could prompt ETH price to soon create a new ATH right after halving.
[1]
Money Flow