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Ethereum Whale Returns With $221 Million Buying Spree Amid Market Dip
- An Ethereum whale recently bought 85,465 ETH worth $221 million at an average price of $2,584.
- Key resistance for Ethereum is at $2,675, while support lies between $2,500–$2,575.
- ETH reclaimed a 5% futures premium after dipping to $2,440, showing renewed trader confidence.
- The whale address 0xd8d0, known for securing over $30 million in Ethereum profits, spent $37.15 million to buy 15,000 ETH at $2,477.
- The same whale invested roughly $221 million in USDC to accumulate 85,465 ETH, showcasing strong confidence in Ethereum's future performance.
- During a market dip, the whale acquired 48,825 ETH worth $127 million at an average price of $2,605.
- Ethereum's price is consolidating between $2,500 and $2,675 with support at $2,500 and resistance at $2,675.
- Despite recent fluctuations, ETH remains above $2,500, facing a challenge near the $2,675 resistance level.
- Derivative data suggests growing trader confidence with the Ether futures premium recovering to 5%.
- The 200 EMA and 200 SMA are important support levels at approximately $2,575 for Ethereum.
- A breakout above $2,675 with increased volume could push the price towards $2,850 – $3,000.
- Ethereum remains in a tight consolidation zone and must protect the $2,500–$2,575 support range to avoid further decline.
- While retail investors panic-sell, the whale continues to buy large amounts of ETH from centralized players.
- The price surge past $2,675, accompanied by rising volume, could be key in reaching $2,850 – $3,000.
- Maintaining support at $2,500–$2,575 is crucial for Ethereum to avoid a deeper fall towards $2,400.
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