Ethereum’s recent price surge has brought it to just below the $3,000 level—a historically crucial demand zone that often serves as resistance.
However, with strong bullish sentiment prevailing, this level may not hold Ethereum back for long, opening the door for potential further gains.
Ethereum's recent surge has propelled it to just below the $3,000 mark, a historically significant demand zone.
While such levels often act as resistance, the strong bullish sentiment may reduce this effect, paving the way for further gains. pic.twitter.com/gOejqOWygp
— IntoTheBlock (@intotheblock) November 8, 2024
A savvy investor, with an impressive 86.7% win rate, has taken advantage of this rally to lock in profits.
Over the past 30 minutes, this “smart money” trader sold 11,267 ETH, which had been acquired the previous day at $2,910 each, for an average price of $3,043.6, securing a tidy profit of $1.51 million on this single trade.
This move brings his track record to 13 wins out of 15 trades, with a total profit of $5.38 million, showcasing the calculated strategies that successful traders are using in the current bullish environment.
已经说不清是实力还是运气了😆「波段胜率 85.7% 的聪明钱」第 15 次波段再次告捷，获利 151 万美金
过去半小时，他以均价 $3043.6 清仓了昨天买入的 11267 枚 ETH（成本 $2910），约 3429 万美金；目前战绩刷新为 15 战 13 胜，胜率 86.7%，共获利 538 万美金🚩
钱包地址 https://t.co/DHcMxE3GOE https://t.co/SBvfL2Hi2D pic.twitter.com/g0fpyhTA1n
— Ai 姨 (@ai_9684xtpa) November 9, 2024
Ethereum Spot ETFs Recorded Notable Net Inflow During The Week
On November 8, Ethereum spot ETFs saw a notable net inflow of $85.86 million, marking the third-largest single-day inflow in their history. This influx suggests growing institutional interest, as funds flow into Ethereum-backed financial products. High ETF inflows like these reflect the heightened interest in Ethereum’s prospects, potentially supporting its momentum and increasing the likelihood of breaking through the $3,000 resistance.
On November 8, Bitcoin spot ETFs had a total net inflow of $293 million. BlackRock ETF IBIT had an inflow of $206 million. Ethereum spot ETFs had a total net inflow of $85.8566 million, the third highest single-day net inflow in history. https://t.co/59u0BnEqLG
— Wu Blockchain (@WuBlockchain) November 9, 2024
With increased smart money participation and strong ETF inflows, Ethereum’s upward trajectory could gain more traction if it successfully surpasses the $3,000 level. Market participants will be watching closely, as a breach above this significant zone could spark further gains, driving Ethereum toward higher milestones and cementing its bullish outlook for the coming weeks.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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