{"id":383640,"date":"2025-03-20T14:24:59","date_gmt":"2025-03-20T08:54:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/whales-withdraw-29m-eth-after-ethereum-price-surge-7-bullish-rally-to-continue-crypto-news\/"},"modified":"2025-03-20T14:28:46","modified_gmt":"2025-03-20T08:58:46","slug":"whales-withdraw-29m-eth-after-ethereum-price-surge-7-bullish-rally-to-continue-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whales-withdraw-29m-eth-after-ethereum-price-surge-7-bullish-rally-to-continue-crypto-news\/","title":{"rendered":"Whales Withdraw $29M ETH After Ethereum Price Surge 7%: Bullish Rally to Continue? – Crypto News"},"content":{"rendered":"

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After a downfall to $1800, the Ethereum price recovered somewhat. With the FOMC meeting outcome, the entire crypto market witnessed some recovery, including ETH, whose price surged by 7%, reclaiming the crucial $2,000 mark. This increased investors\u2019 enthusiasm, resulting in large institutional traders like whales withdrawing $29M and others buying in millions, showcasing increased confidence. So, what\u2019s next? Let\u2019s discuss this.<\/p>\n

Ethereum Price Rallies With Whale Activity and Market Movement<\/h2>\n

According to the popular onchain analytics platform Lookonchain, three whales withdrew 14,217 ETH, equivalent to $29M, and deposited it onto the Aave. The further action reveals that the whale borrowed 12M USDT from the Aave and transferred to the exchanges again, probably to buy more tokens.<\/p>\n

Such moves suggest whales\u2019 confidence in the token. More importantly, it builds speculation of further Ethereum price rallies. Interestingly, the 7% surge coincided with the FOMC meeting,<\/a> and the Fed kept the interest unchanged.<\/p>\n

This resulted in the recovery of the broader crypto market, which includes ETH and other cryptos. In addition, Ethereum co-founder Vitalik Buterin and Tron founder Justin Sun played a significant role.<\/p>\n

Recently, Buterin sold many of his assets and received 71.697ETH. At the same time, Sun staked 60,000 ETH<\/a>, equivalent to $114M, on Lido, yielding him 1,740 ETH annually. This staking move shows Tron\u2019s founder\u2019s confidence in the token, influencing others. This resulted in a trading volume and price surge.<\/p>\n

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Ethereum Price Outlook & Predictions<\/h2>\n

Ethereum\u2019s recent recovery has resulted from various technical and investors sentimental reasons. Analysts believe that the token shows strong signs of further recovery. One added that it replicates the 2019-2020 Megaphone pattern, leading to a year-long bullish rally. With that, analyst claims to witness a $6,000 rally before the cycle tops.<\/p>\n

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We expect at least a 1.5 Fib extension test at $6000 before this Cycle tops.<\/p>\n

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Another analyst added that ETH is testing the lower boundary of the symmetrical triangle in the 2-week timeframe. A bounce from this would result in the ETH price rally<\/a> to $4,000. Many similar bullish outlooks reveal that the token is up for major shifts.<\/p>\n

However, caution is important as a major resistance lies at $2,575, where it currently trades at $2,014.92 with a market capitalization of $243.05B. A breakout above this key resistance could push it towards $3k and higher. However, the failure would result in the Ethereum falling toward $1,769.<\/p>\n

Will Ethereum\u2019s Bullish Rally Continue?<\/h2>\n

Based on the recent surge, analysts\u2019 Ethereum price predictions,<\/a> and technical factors, the ETH\u2019s bullish momentum is strong. A breakout is certain if it breaks above the key resistance of $2,575.<\/p>\n

However, if the resistance holds, the ETH price may retest $1,769 before attempting another uptrend. Investors must eye the key resistance and support to ensure the sustainability of this bullish momentum.<\/p>\n

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Frequently Asked Questions (FAQs)<\/h2>\n
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\n \tThe Ethereum price surge is due to investors’ increasing confidence in the digital asset after stabilized market sentiments.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tThe key resistance level is $2,575, and the key support level is $1,769, which could define Ethereum\u2019s trajectory. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tProminent institutional buyers like whales influence the token\u2019s price due to their larger bets. Recently, three whales withdrew $29M worth of ETH, signaling confidence. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n

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