A naukri.com initiative
NullTX
4w
317
Image Credit: NullTX
Ethereum Whale Activity Sparks Speculation of Major Price Movement Ahead
- Significant whale activity in Ethereum has sparked speculation of a major price movement ahead.
- High-net-worth individuals have accumulated over a million $ETH in the last 48 hours, leading to speculation of insider knowledge or a bullish bet on Ethereum.
- Historically, buying Ethereum below the MVRV ratio has provided profitable returns, indicating a favorable entry point.
- Attention is focused on whether the current MVRV dip signals Ethereum's next buying opportunity, with whales playing a significant role.
- Key resistance for Ethereum lies at $2,460, with a significant supply of ETH held by investors at that level.
- If Ethereum breaks above $2,460, it could reignite bullish momentum in the market.
- Technical indicators like the TD Sequential signal a buy opportunity for Ethereum, potentially indicating a price reversal to the upside.
- Short-term targets for Ethereum include $2,350 and $3,260, with a potential significant rally if these price levels are breached.
- Despite Ethereum ETF outflows, overall market sentiment remains positive due to strong fundamentals and whale activity.
- Ethereum's consolidation around key support levels presents opportunities for traders, with potential upside above $2,460.
Read Full Article
19 Likes
For uninterrupted reading, download the app