Ethereum News Today: Ethereum Whales Shift Focus to AAVE Amid Bullish Momentum

Ethereum has experienced a brief respite after a recent price surge, with deep-pocketed investors continuing to accumulate ETH ecosystem cryptocurrencies. This trend is particularly evident in tokens like Aave and Remittix, which have seen significant support from investors. Market experts believe that the uptrend for these tokens, including ETH, still has considerable momentum.

The latest Ethereum price predictions are based on the steady golden cross observed in the previous week. Market charts indicate that the 50-day Exponential Moving Average (EMA) is approximately $400 above the 200-day EMA, signaling a sustained uptrend. The Relative Strength Index (RSI) has decreased from 80 to 74, reducing overbought pressure while maintaining bullish momentum in the "power zone."

Since the beginning of the week, data from LookOnChain has recorded nearly 82,000 ETH, valued at $270 million, being transferred into self-custody addresses. Analysts interpret this as institutional investors capitalizing on a bullish Ethereum price prediction, with the next target ranging between $3,500 and $3,750. The next support level is identified at $3,000, with a more substantial support level at $2,500, where previous low-gas-fee crypto rotations began.

With the recent cooling off of ETH prices, whales have shifted their focus to AAVE, accumulating 410,000 of the token in recent days. The upcoming Q3 V4 launch, which integrates liquidity across 34 networks and reduces borrowing costs by 30%, has generated significant interest in AAVE. Open interest has surpassed the January record at $1.44 billion, and capital has turned positive at 0.02%.

If bulls can regain the $330 level, the inverse head-and-shoulders pattern suggests a target of $388, which aligns with the 38% Fibonacci extension of the 2024 rise. Market analysts agree that Aave’s developing GHO stablecoin markets position it as a project with tangible utility and strong long-term crypto potential.

As the market anticipates the next crypto boom, traders are backing Remittix (RTX), a PayFi project that facilitates reliable FIAT conversions from blockchain assets. Analysts attribute this growth to several factors, including global access to crypto-to-FIAT conversion and payments across over 30 currencies with minimal transaction charges. The project prioritizes utility and plans to introduce a non-custodial wallet this quarter, allowing users to convert ETH, BTC, SOL, and AAVE into fiat in real time. Security is another priority, with the project recently receiving certification from CertiK after a full smart contract audit.

With a high-flying presale raising over $16.5 million, a 50% token bonus, and an ongoing $250,000 giveaway featuring deflationary burns, Remittix is expected to be the next 100x crypto. The project's focus on utility, security, and global accessibility positions it as a strong contender in the PayFi space.