Ethereum Price Faces Key Support Amid Whale Activity
- The Ethereum price is around $1,828, down approximately 3.1% in the last day.
- Ethereum’s market cap is near $220 billion with futures trading volume surpassing $51 billion in a day.
- More than $100 million in leveraged positions have been liquidated recently.
- Whale activity includes a sale of nearly $13.4 million worth of ETH at a loss and another transfer of over $45 million ETH to exchanges.
- Vitalik Buterin sold over 8,800 ETH for ecosystem funding purposes, not indicating lost confidence.
- BitMine Immersion Technologies acquired over $51,162 ETH for their corporate treasury amid weak price action.
Ethereum’s current price level is testing a long-term demand zone with significant whale movements adding pressure to the market dynamics. Despite short-term volatility and liquidation events, institutional players continue to accumulate Ethereum, reflecting divergent strategies among market participants.
Holding the key support level of $1,800 could reinforce Ethereum’s historical accumulation range, while failing to do so might trigger further liquidations in leveraged markets.(Source)
