Whales Wake Up Following Ethereum’s Trade Near $1,650! Will ETH Price Gain Further Momentum?
As Bitcoin struggles to maintain its price level above $27,500, Ethereum is also attempting to rally past the critical $1,650 threshold. Amidst the...
- Bitcoin and Ethereum are facing volatility in their price levels.
- Whales are actively buying and selling Ethereum, causing increased volatility.
- Ethereum's open interest has increased by $100 million in a short period.
- On-chain metrics show a significant increase in large transactions by whales.
- The reactivation of dormant whales and their selling activities raise concerns about Ethereum's price trajectory.
- The current price of Ethereum is encountering resistance at the 20-day EMA level.
- Bullish sentiment remains strong, suggesting the potential for a rebound.
- If the price maintains above the 20-day EMA, Ethereum could retest the resistance at $1,670.
- Bears may attempt to pull the price below the 20-day EMA, aiming for a decline towards a support level at $1,530.
The article discusses the increased volatility in Ethereum's price due to the buying and selling activities of whales. It highlights the potential risks and uncertainties surrounding Ethereum's price trajectory. However, it also mentions the possibility of a bullish reversal and a potential rebound in price.