According to the latest Santiment on-chain data, the top 10 Ethereum (ETH) Wallets since last year have 23.7% of the total ETH Supply. The increase in ETH in the specified wallets is observed in the shared chart, which is 4.3% compared to March 2021.
When we look at the technical data; Ethereum (ETH) has been moving on an ascending trend line since March 15, and on the other hand, it has broken the $3000 resistance, which is an important resistance area.
It is currently trading above $3,100. It will be important for the continuation of the uptrend to hold above the $3,300 and $3,500 levels, which are an important resistance zone, and to make a daily close.
At the same time, these resistance zones coincide with the MSB, that is, the market structure break zone, which comes after the decline. In addition, we see that it continues to move in a range area between the high of $3,800 and the low of $2,170. Otherwise; If the resistance zone cannot be broken, we can see a pullback to the middle band level, which is one of the demand zones, to the $2,900 zone.
As in the Cryptoquant ETH Exchange Out Flow data, the low outflow on March 15 and the rise on the eth side are among the data.
When we look at the market in general, while the positive trend is dominant, the closings above the resistance this week will be important.