Ethereum surged nearly 10% shortly after the latest CPI release, climbing rapidly from $2,433 to $2,667, according to a BlockBeats report published on Sept. 12. Analyst alicharts said the move was driven by whales, pointing to a roughly 14% increase in Ethereum transactions worth more than $1 million during the rally.
The analyst also said ETH is now approaching a major resistance area. More than 10 million ETH previously changed hands between $2,700 and $2,800, creating what alicharts described as a notable supply wall. In that view, whales would need to push through that range for Ethereum to move on to $3,000. The report did not provide further market context beyond the post-CPI price move and the whale transaction data.
Ethereum jumped nearly 10% after the latest CPI release, rising quickly from $2,433 to $2,667, according to BlockBeats on Sept. 12.
Analyst alicharts said the short burst higher was driven by whales. During that period, the number of Ethereum transactions worth more than $1 million increased by nearly 14%.
At the same time, alicharts said Ethereum is approaching a major resistance zone. More than 10 million ETH had previously traded between $2,700 and $2,800, forming a notable supply wall.
According to the analyst, that range is the key area whales must break for Ethereum to climb to $3,000.
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