Ethereum (ETH) is maintaining an upward trend despite the recent overall weakness in the cryptocurrency market, showing a relatively strong performance compared to Bitcoin (BTC). After recording an annual high of $3,850 (approximately 53.57 million won) on Binance and entering an adjustment period, Ethereum is maintaining support at $3,500 (approximately 48.65 million won) and showing potential for further increases.
This strength is also confirmed through technical analysis. On the 4-hour chart, Ethereum has settled above the 50-day exponential moving average (EMA), and on the 1-hour chart, it is moving above the 200-day EMA, sending signals of continued buying pressure in the short term.
Meanwhile, the movement of whale investors has also been notable. Since July 9th, new whale wallets have purchased over 540,000 Ethereum, which corresponds to approximately $207.9 million (about 2.889 trillion won) at current market rates. Interpretations suggest that new capital inflows are supporting a strength reversal.
However, caution is needed regarding potential short-term adjustments. Currently, buy orders are concentrated in the $3,000-$3,400 (approximately 41.7-47.26 million won) range, so a strong decline to remove liquidity in this price range could potentially lead to a rebound after a short-term sharp drop.
Market experts analyze that Ethereum has the potential for an additional rally towards $4,000 (approximately 55.60 million won) based on solid technical support and whale buying pressure, while also warning that temporary fluctuations may occur in areas with excessive liquidity.
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