Key Takeaways
Ah, the paradox of prosperity! While the high percentage of profit-holding enthusiasts could dampen Ethereum’s momentum, an enigmatic shadow looms over this conundrum.
Lo and behold, during the weekend jubilation, Ethereum [ETH] pirouetted upwards by a delightful 4.09%. The famed altcoin perched valiantly upon the $3,700 support like a proud lion, elegantly scaling the $3,860 local peak, blissfully reminiscent of July 21st.
Ah! The ascent past last week’s zenith also heralded a serendipitous breakout from a cozy short-term range. Yet, like a culinary novice attempting a soufflé, the trading volume, or lack thereof, casts doubt on our economic soufflé’s ability to rise further.
The CMF, that wise sage of trading metrics, concurs with this muted anticipation, presenting a reading of an uninspired 0.0. The MACD offers a faint nod towards bullish energy, but our gaze now drifts to the next daunting resistance at $4.1k.
On the blockchain data front, a high proportion of cheerful holders seem to be reaping profits, while the holder accumulation ratio has decided to take a stroll downwards. Does this indicate a market on the brink of overindulgence, craving a refreshment? 🍹
Ethereum Might Have More Gas in the Tank
The holder accumulation ratio, that slinky barometer of adventurous stakeholders enhancing their holdings, displayed cheer in the salad days of May through early July but recently bumped into a slide, failing even to surpass the enchanted 50% threshold.
This feels suspiciously like the audience’s whispered doubts; could it be that the network’s enthusiasm isn’t quite stoking the flames of the Ethereum bonfire recently?
According to the ever-watchful AMBCrypto, the percentage of supply swimming in profit now rests at a staggering 98.1%. It’s fascinating how ETH comes alive to kiss local highs when this figure flirts past 95%. It danced this tango in March, June, and oh, that unforgettable December of 2024.
Should this fabulous trend persist, a retro-style pullback might be ahead on the Ethereum express! 🚂
The Evidence in Favor of ETH
Yet, let us cast our minds back to the epic saga of the 2020-2021 bull run, where the percent supply in profit waltzed above 95% from November 2020 to May 2021. If history cares to repeat itself, Ethereum might just be in for another whimsical half-year of highs.
Adding to the intrigue, ETF netflows have been the toast of the town, celebrating positivity on nearly every trading day in July. Can you believe it? On July 25th, $452 million waltzed into the net, marking the 16th consecutive day of jubilant ETH spot ETFs.
This joyous ride kickstarted on July 3rd, courtesy of the data gathering forces at Farside.
When combining the ECB-esque growth of Ethereum treasury companies with their stock pageantry, a spectacle of institutional demand begins to shimmer on the horizon, promising to invigorate ETH’s escapades.
Hence, despite the slight downturn in holder accumulation and the buoyant profits, the ethereal optimism for this altcoin remains as intact as a freshly baked chałka. 🌟
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2025-07-28 16:12