Analysts have noted that Ethereum (ETH) has surged by 31.8% and is approaching a critical resistance level of $3,327, while whale activity has hit its highest level in 14 weeks, boosting investor optimism.
According to data from Santiment, the number of transactions over $1 million has risen to 8,482—the highest since August, with total whale transaction volume exceeding $10.4 billion. This indicates growing interest from large-scale investors.
However, the “Liveliness” index is on the rise, suggesting that some long-term holders (LTH) are beginning to take profits. If this trend continues, ETH’s upward momentum could slow down. Conversely, if LTHs continue to hold, the cryptocurrency could advance towards $3,524. Failing to sustain the $3,327 level may lead to a pullback to $2,930.