Ethereum OTC Accumulation Hits $71M
A significant accumulation of Ethereum (ETH) has taken place through over-the-counter (OTC) desks, with one buyer acquiring an additional 10,000 ETH worth $19.1 million today.
This purchase follows a previous acquisition of 27,000 ETH valued at $52.03 million just two weeks prior, bringing the total outlay to roughly $71 million in the fortnight.
These large-scale purchases point to sustained institutional demand that has shaped Ethereum's technical analysis and OTC purchasing patterns over the past six months.
The current price of ETH sits at $1906.1 within the Bollinger band, with upper resistance at $1913.64.
The MACD golden cross is at 7.2, while EMA50 support is at $1881.2, maintaining a bullish structure for Ethereum's technical analysis.