strong buy
Ethereum Whales Resurgence Weakens bearish Sentiment
The attached chart illustrates the 'Binance Ethereum Average Order Size' indicator, which depicts Binance's spot and futures trading volumes through moving averages, helping to assess Ethereum's market sentiment and momentum.
Recent data indicates a strong bullish signal, which appeared in December 2023 just before Ethereum's price surged from $2,200 to $4,000.
Since May 19, whale orders on Binance have become active again, signaling a very positive development. Whales tend not to buy at bottom prices but tend to initiate purchases when there's a notable upward trend.
From this pattern, May appears to be a good entry point for a bullish stance, suggesting that major investors are actively entering the market.
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AI Analysis
The recent revival of whale activity on Binance, as reflected in the Ethereum trading volume indicator, suggests a shift in market sentiment. Historically, whale purchases tend to precede significant ...
AI Recommendation
Based on these signals, it would be prudent to consider accumulating Ethereum or at least maintaining a bullish stance, especially given the active large investor involvement.
Investors should monito...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.