The recent fluctuations in the encrypted currency market witnessed that ETHEREUM (ETH) suffers from a significant decrease in prices, an event that may have been amplified through the strategic movements of the so -called “whale”.
Through huge transactions, these big investors can affect market dynamics and contribute to more pronounced prices.
Pisces and influence on the market for ethereum
Shortly before the last collapse, some ethereum whales made strategic exits from their locations and intensified the pressure pressure. A relevant example includes a sleeping whale, after six years of lack of activity, was transferred 77,736 ethHe deserves 228.6 million dollarsTo bitfinex.
This amount was withdrawn only 11.9 million dollars In January 2019, when Ethereum had a price 153 dollars per code.
These sediments on the central stock exchanges indicate a possible intention, which contributes to increasing the pressure of the bear in the market.
Parallel, another whale took a short site on Ethereum with a 50x Poster, and the generation of uninterrupted profit 30 million dollars. This aggressive strategy is likely to have increased the direction of the bear, which led to more forced liquidation and amplification of the accident.
ethereum and low direction of the logarithm slope
It has brought Ethereum’s recent low prices to the lower range of the logarithm slope. This channel has historically represented an important area of support and resistance, as ETH tends to bounce from low levels before height towards the average line.
In June 2024, Ethereum approached the minimum of this channel, indicating a possible continuation of the bear.
Currently, at a price around it $ 2526The level of historical support in 1750 dollars It can become a major target if the sales pressure increases.
If Ethereum is able to maintain stability above this minimum, we can witness a recovery towards $ 3500The intermediate area of the logarithm channel.
However, the possible rest to the negative side may lead to the ETH test for deeper levels, with 1200 dollars As a possible goal in the case of extensive correction.
What do you expect from the ethereum market?
The recent procedures for the whale highlight the need to monitor its movements closely, because they often expect market trends.
Investors should pay attention to any new huge transportation to the stock exchanges, which may indicate future sales and high fluctuations.
With Ethereum fluctuation in a critical area, the market’s ability to absorb these sales and maintain current support levels will determine the future trend of the original. Experienced investors continue to monitor the data on the series to determine the accumulation signals or increase the bear pressure.
In short, while the behavior of the whale has contributed to the last collapse, the market’s reaction in the coming days will be it is very important to understand whether the eth is in the stage of unification or if the direction of the bear is continuing towards its lowest level.
