Recent reports indicate that the Ethereum (ETH) CrossX indicator is flashing strong buy signals, suggesting a potential breakout toward $4,000. As the market transitions from selling to buying, on-chain data reveals that institutional investors are heavily accumulating ETH tokens, indicating a shift in market sentiment.
Institutions Load Up On ETH As Buy Signal Flashes
According to on-chain analytics platform Lookonchain, there has been a notable increase in Ethereum accumulation, predominantly driven by institutional whales. Within just three hours, a wallet address linked to the trading firm Cumberland DRW withdrew an impressive 27,632 ETH, valued at approximately $50.24 million. This transfer involved major exchanges such as Coinbase, Copper, and Binance.
The wallet’s activity is characterized by several high-value transfers, including a 7,600 ETH withdrawal worth $13.83 million from Coinbase, a 5,992 ETH withdrawal worth $10.92 million from Copper and Binance, and another transfer of 5,960 ETH valued at $10.88 million from Copper. This consistent use of the receiving wallet, known as 0ex287AA111…, across all transactions suggests a coordinated accumulation strategy rather than typical trading activity.
Historically, large withdrawals from Ethereum exchanges have been a precursor to price surges, as these activities significantly reduce sell-side liquidity and reflect a long-term holding intent by investors.
As this institutional accumulation intensifies, the Ethereum CrossX Indicator has once again confirmed a strong buy signal. This development reinforces the view that institutional interest is rising, which could lead to increased demand and potentially further upward price movement.
Ethereum CrossX Indicator Suggests $4,000 Surge Ahead
In a detailed analysis by Ezy Bitcoin on X, the CrossX indicator officially triggered a buy signal for Ethereum, indicating a potential surge above $4,000. This is notably the first signal observed in nearly six months, historically preceding significant price actions and explosive moves.
The CrossX Indicator, designed to identify high-probability trend reversals based on volume, price action, and divergence patterns, has shown remarkable accuracy in past cycles. The recent weekly charts indicate that previous buy signals were accompanied by rallies that propelled ETH to new local highs.
With Ethereum’s price rebounding from recent lows and a new Bullish Divergence forming, the market could be on the verge of another rally. If patterns hold true, ETH may be positioning itself for a rise beyond $3,000, with potential to test the $4,200 mark by year’s end.
According to data from CoinMarketCap, Ethereum is currently trading at $1,803, which reflects a yearly decline of 43.10%. A rise to $4,200 would represent a whopping 132.95% increase, bringing Ethereum (ETH) nearer to its previous all-time high exceeding $4,800.
