After examining ETH’s price action, the analyst is confident and expects the altcoin to bounce strongly from its current levels. His chart shows that Ethereum is building momentum above $2,471, which is currently the most immediate support against downward attempts.
Looking at the chart, the first resistance ahead is at $2,657, the second is at $2,773, and the third is at $2,879. Following its rally to the first resistance, Ethereum is expected to witness a brief pullback before surging again toward the next resistance zone at $2,773. A similar scenario is likely to occur when Ethereum hits the second resistance before rallying to the third barrier and beyond.
Data from Santiment reveals that the number of these holders now stands at 6,392. Over the past 30 days, the group has accumulated more than 1.49 million ETH, marking an increase of over 3.72%. After this massive accumulation, this cohort now holds 26.98% of ETH’s total supply.
