The accumulation of the Ethereum whale indicates a long -term optimism
Ethereum was in the direction of a sharp drop, as it lost more than 57 % of its value since late December. Despite short recovery attempts, ETH still fails to restore decisive price levels, indicating more negative risks. ETHEREUM is now trading without a multi -year support level, which turns into strong resistance, making it difficult for bulls to restore momentum.
In addition to negative expectations, total economic uncertainty and commercial war fears continue to influence both encryption and traditional markets, which leads to an increase in risk morale among investors. With the US stock market as well, the ETHEREUM remains under pressure, spoiling the stage for deeper correction.
However, not all signs are declining. Some analysts believe that Ethereum can recover in the coming months, and that the data on the series show signs of potential accumulation. The encryption analyst Ali Martinez Share Santiment dataAnd revealed that the whales have bought more than 420,000 Ethereum in the past five days.
Historically, the accumulation of the whale tends to be widely until it is a strong bullish signal in the long term of ethereum. When whales increase their property, they usually indicate the increasing confidence in the future prices of ETH. In previous sessions, whales are often preceded by low prices, as accumulation reduces the display available on stock exchanges, which increases the purchase pressure over time.
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Currently, Ethereum must restore the main levels to confirm the reflection of the direction. If the whales persist in accumulation, the ETH may be prepared for a long -term recovery, even if the short -term price procedure remains volatile.
ETH fighting to restore the main levels
ETHEREUM is currently trading at $ 1900, in the face of continuous resistance after days of struggle without a $ 2000 mark. It has made the broader market weakness and the pressure pressure is difficult for the bulls to restore momentum, leaving the ETH vulnerable to the exhibition along with the additions if the main levels are not recovered soon.
To confirm the recovery, the bulls must pay the ETH above 2000 dollars and then penetrate the decisive resistance of $ 2,250. The successful restoration of these levels would constitute the beginning of the potential recovery phase, allowing Ethereum to build momentum for a greater move up.
However, if the ETH fails to restore these levels, the pressure pressure may increase, which causes the price to drop the demand areas. The current support for the current support ETH is likely to be sent to the range of $ 1700, and if the declining momentum continues, another decrease may follow to $ 1,600.
As morale continues to feel in the market, the next few days will be very important in determining whether Ethereum can stabilize and restore or whether it will face deeper corrections. Bulls need to intervene soon to prevent more from the negative side and restore control of price movement.
Distinctive image from Dall-E, the tradingView graph
