Ethereum’s Wild Ride: Overtaking Bitcoin Like a Boss! 🚀

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Well, well, well! If it ain’t Ethereum, the plucky little underdog, strutting its stuff like a rooster in a henhouse! With a price tag of $2,760 and a 24-hour volatility of 2.6%, it seems our dear ETH has decided to break free from its month-long slumber, closing above the mighty $2,700 resistance level. As of this very moment, it’s prancing around at $2,794, flaunting a delightful 5% gain in the last 24 hours. Ain’t that a sight for sore eyes? 🤑

Now, hold onto your hats, folks! The trading volume has jumped higher than a cat on a hot tin roof, soaring over 40% to a staggering $33.67 billion. Looks like the market’s got a fresh whiff of interest, and it’s smelling sweeter than a peach in July!

But wait, there’s more! Ethereum has decided to play leapfrog over Bitcoin in the contract trading volume game, racking up a jaw-dropping $111 billion in the last 24 hours, leaving Bitcoin in the dust with its mere $87.5 billion. Talk about a plot twist! 🎉

And if that ain’t enough to tickle your fancy, ETH’s liquidation volume has hit $131 million, more than double what Bitcoin’s been up to. Looks like the folks are getting a bit too cozy with their leveraged trading around Ethereum. Who knew trading could be such a wild ride?

Oh, and let’s not forget the Ethereum network, which has recently hit a new all-time high of 17.4 million unique addresses. It seems like everyone and their grandma wants a piece of this action, with a whopping 70% rise in ETH addresses interacting across chains since the start of Q2. Can I get a hallelujah? 🙌

Now, let’s talk about the big fish in the pond. Institutional and whale accumulation has been the wind beneath Ethereum’s wings. Just the other day, wallet address 0xc097 withdrew a cool 13,037 ETH worth around $35.5 million from Binance. That’s some serious cash, folks!

Whales are accumulating $ETH.

Whale 0xc097 withdrew 13,037 $ETH($35.5M) from #Binance in the past 24 hours.

Abraxas Capital withdrew 44,612 $ETH($123M) from #Binance and #Kraken in the past 14 hours.

— Lookonchain (@lookonchain) June 11, 2025

And speaking of whales, crypto hedge fund Abraxas Capital recently pulled a staggering 44,612 ETH (roughly $123 million) from both Binance and Kraken. They must be swimming in profits like ducks in a pond!

ETH Price Outlook

Now, let’s take a gander at the daily ETH chart. The price has decisively broken above its upper Bollinger Band near $2,782, a bullish signal that suggests strong upward momentum. The Bollinger Bands are widening, hinting at potential for further gains. It’s like watching a balloon inflate—just hope it doesn’t pop!

ETH price chart with RSI and Bollinger Bands | Source: TradingView

The RSI is currently lounging around 65.25, close to overbought territory but not signaling exhaustion just yet. If this bullish trend keeps on trucking, immediate resistance lies at $2,835, followed by the psychological barrier of $3,000. Can you feel the tension? 😅

Meanwhile, the MACD is showing a bullish crossover above the signal line, with the histogram flipping positive. This indicates a favorable trend for bulls. It’s like a party where everyone’s invited!

ETH price chart with MACD | Source: TradingView

However, dear traders, keep your eyes peeled for any signs of weakening momentum or resistance near overbought levels. If the price takes a tumble, immediate support is seen at $2,585 near the 20-day SMA. Better safe than sorry, I always say!

And let’s not forget the wise words of popular crypto trader Merlijn, who recently declared on X that ETH is back in “beast mode.”

Ethereum is back in beast mode.$ETH smashed through $1.5K and $2.2K like paper. Now it’s staring down $4K.

Next stop? Price discovery.

$10K isn’t a dream it’s a setup.

— Merlijn The Trader (@MerlijnTrader) June 10, 2025

He’s got his sights set on the second-largest cryptocurrency surging to $4,000 and even $10,000 in the long run. Now that’s a dream worth dreaming!

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2025-06-11 14:37