Ethereum Shows Signs of Accumulation Amid Potential Leveraged Dip Before Possible Breakout
Main Idea
Ethereum is showing signs of accumulation near $3,780 with strong liquidity inflows, but a short-term dip may occur to clear leveraged positions before a potential breakout.
Key Points
1. Ethereum price is consolidating near $3,780 with strong on-chain accumulation and tightening supply.
2. $2 billion in USDT was minted, indicating fresh liquidity entering the market, likely for asset accumulation or market-making.
3. 244,000 ETH (worth nearly $900 million) was withdrawn from Coinbase, suggesting long-term holding and potential upward price pressure.
4. A short-term price dip may occur to clear leveraged positions before a breakout, as indicated by the divergence between price and open interest.
5. Strong on-chain data, including large USDT mints and ETH withdrawals, signals accumulation and bullish intent despite potential volatility.
Description
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