The price of ETHEREUM fell to less than $ 3,150 on Saturday, February 1, as the encryption markets declined after a volatile week, data trends on the series indicate a decrease in the whale demand on ETH can exacerbate the market in the coming days.
Ethereum price is struggling to hold $ 3,100 amid the market decline
ETHEREUM (ETH) faced a sharp contraction on Saturday, which reflects a wider decrease in the market that erases the gains that were seen earlier in the week. ETH has decreased about 6 % for trading without a mark of $ 3,150, with decisive, with risk feelings spread across digital asset markets.
The low price of ETH follows a volatile week, as the factors of macroeconomicism, such as the expectations of the Federal Reserve and Mixed Economic Data, have affected investor morale. The broader cryptocurrency market also witnessed significant losses, as Bitcoin decreased to less than $ 102,000 and other pioneers in the field of similar sale.
Ethereum, which showed flexibility earlier this week by restoring the level of $ 3300, eventually failed to maintain its momentum amid increased pressure pressure.
The technical indicators of MoEMNTETAREUM indicate that the level of $ 3100 is a decisive support zone. If this threshold is decisively violated, ETH may see an additional decrease towards the psychological level of $ 3,000, as buyers may look to intervention.
The demand for ETHEREUM whale requires 22 %, as market updates are disrupted
ETHEREUM price decreased coincided with a significant decrease in whale activity. Large transactions, which are often used as an alternative to the intelligence and high investor participation in the network, decreased sharply
In January. The number of ETHEREUM whale transactions reached its peak at 1741 during the month, which represents a decrease of 22 % of the peak of December of 2,245. The most anxiety, the number in the slip continued about 1,571 by January 31, according to the data on the series.
This trend indicates that the main investors may reassess their exposure to ETH, especially in light of the recent discussions surrounding the ETHEREM network updates.
The recent Vitalik Buterin data related to the network road map has entered the uncertainty, prompting some merchants to follow the waiting and vision approach. Historically, protocol promotions or discussions around them have led to short -term fluctuations where the market aims to possible effects on the costs of transactions, expansion and integrity mechanisms.
The demand for whale is a decisive factor in maintaining liquidity within the ethereum ecosystem. Its large owners provide the liquidity of the market that is intensified. By absorbing the pressure pressure, it allows the sellers to panic out with the minimum negative impact on ETH prices. Consequently, the recent decline in the sharing of whales, and therefore, raises concerns about the ETHEREUM capacity to withstand more downward pressure if the morale of the influencing market continues.
The simultaneous decline in ETHEREUM prices and the number of whale emphasizes a cautious situation among institutional investors. Many of them seem to reduce their exposure, and they may wait for more clarity in network transition plans and upcoming updates. If the whale activity is not recovered soon, the ETH may be struggled to restore its foot, as the liquidity decrease can lead to exaggeration of price fluctuations in either direction.
ETHEREUM price expectations: 3,100 dollar dual formation hints
Looking at the future, the expected plans for the ETHEREUM price are alluded to the upcoming central trading periods. If purchasing interest returns at the main support levels, ETH may settle and may restore the lost land. However, if the demand for the whale remains steadfast, the Ethereum risks deeper declines, as merchants are likely to monitor a $ 3,000 test in the coming weeks.
In terms of basic indicators. Market participants will closely monitor the upcoming Ethereum Foundation ads and Buserin’s comment for more directives about the network track.
Technically, ACT PRICE ETH has formed a dual classic pattern that hints to a possible collapse less than the decisive support of $ 3100.
The dual summit, which was characterized by two failed attempts to violate the last highlands, often indicates an exhaustion between buyers. With ETH is now about 3,153 dollars, a decisive break can confirm under $ 3,100 a declining reflection pattern, offering negative goals at $ 3,020.
More strengthening of downward expectations is the Sheikh’s power index (EWO), which has turned into negative at -4.25. This indicates a decrease in momentum with the intensification of the sale pressure. In addition, the ETH failure to restore the borders of the Central Donchian channel at a price of $ 3,272 highlights the dominance of the bears, while maintaining the wider landing direction intact.
On the upper side, the Ethereum still hovering inside the Tawhid area, and it can bounce strong from $ 3100 to nullify the scenario of the collapse. If buyers regain control and pay ETH over $ 3,272 resistance, this may lead to a short -term recovery to the top $ 3525 upper Donchian borders. However, unless feelings are decisively, ETH is still vulnerable to more negative aspect.
Related questions (common questions)
The decline of Ethereum is widely driven by the market, reducing the demand for the whale, and the uncertainty surrounding the updates of the next network.
Whale transactions provide liquidity and market stability. Low transactions can increase prices and weaker support levels.
The decisive collapse to the bottom of this threshold may pay ETH about $ 3,020 or even a $ 3,000 psychological mark.
Ibrahim
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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