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ETH Ethereum rallied strongly after August CPI data, with whale trading surging nearly 14%
As August consumer price index (CPI) data showed an annual inflation rate of 3.4%, Ethereum (ETH) prices surged 10% in two hours, rapidly rising from $2,433 to $2,667. Analyst Ali Charts linked the round to increased whale activity, pointing to a nearly 14% increase in the number of large transactions exceeding $1 million.
Currently, the main resistance facing Ethereum is in the US$2,700 to US$2,800 range. Previously, more than 10 million Ethereum units had been traded in this price range, forming a strong supply wall. If this area can be effectively broken through, it will open up space for Ethereum to move towards US$3,000; on the contrary, if it loses the support level of US$2,500, it may further expose the support low below.
Increased whale activity drives Ethereum to rebound
According to Ali Charts, participation from large Ethereum holders has increased significantly in the latest round of market prices. With the release of CPI data in August and the sharp rise in ETH prices, transaction volume worth more than $1 million increased by nearly 14%. However, the current upward trend is facing huge supply pressure from above.
Analysts pointed out that US$2,700 to US$2,800 is the main resistance area for Ethereum, as more than 10 million Ethereum units have changed hands within this range. Once this supply area is successfully cleared, the market path is expected to point to the target price of US$3,000.
Spot fund flow fluctuates violently
Since August 30, the flow of Ethereum spot funds has fluctuated violently. Around September 2, the price briefly fell below $2,400, and then rose back to around $2,500. A strong inflow cluster occurred around September 3, with a single inflow reaching approximately US$60 million to US$70 million. Since then until September 9, the flow of funds remains mixed.
The largest outflow occurred around September 10, during which several significant outflow histograms appeared, with the largest single outflow amount of approximately US$300 million. Subsequently, on September 11, the price of Ethereum quickly rose from the range of US$2,400 -2,450 to exceed US$2,600, accompanied by a net inflow of approximately US$130 million. After hitting a high of around $2,630, ETH pulled back to the $2,500 -2,510 range, and recent capital flows have been relatively small and mixed.
Key resistance: $2,700 -2,800 supply wall
Current support for Ethereum is around $2,500, followed by the $2,450 -2,400 region. Resistance starts at $2,550-$2,600, with recent highs approaching $2,630. However, Ali Charts emphasized that $2,700 -2,800 is the bigger barrier.
Taken together, Ethereum's latest trend combines enhanced whale activity with volatile spot capital flows. The US$2,700 -2,800 range is still the main resistance area at present, and whether it breaks through will become a key factor in determining the subsequent market.
