Ether risks another decrease below $ 1,800, which can open a significant number of investors’ demand, which can catalyze the recovery of ether after a three -wing one
The price of ether (ETH) dropped by more than 52% during a three -month decline after it reached the peak above USD 4,100 on December 16, 2024, TradingView The data show.
While the next correction below $ 1,800 is on the horizon, this may free significant shopping pressure, according to Juan Pellicer, a senior research analyst at Intotheblock.
ETH/USD, 1-day chart. Source: Cointelegraph/TradingView
“Onchain indicators reveal a solid demand zone for ETH slightly below 1900 USD,” said the Cointelegraph analyst, adding:
“Historically, about 4.3 million ETH was bought in the range 1 848–1905 USD, signaling significant support. If ETH drops below this level, the risk of surrender increases, because the demand outside this zone seems much thinner. “
W/out of money around the price. Source: Intotheblock
In financial markets, surrender refers to investors selling their positions in panic, which leads to a significant drop in prices and signaling the nearest bottom of the market before starting the next valuation.
Related: Bitcoin needs over $ 81,000 a week to avoid the minus before the FOMC
Ether is unlikely to see more disadvantages below $ 1,800 among the growing firmness of the whale: Analytic
While Ether can see a short-lived correction below $ 1,800, it is unlikely that it falls significantly due to the growing accumulation of a whale, according to Nicolai Sondergaard, an analyst of research in Nansen.
“It seems likely that if ETH is unable to maintain $ 1900, which we would see in the further minus,” said the CointeLgraph analyst, adding:
“Apparently whales were accumulating, and WLFI also has significant amounts of ETH and regardless of this, the price was not favorable.”
This behavior was also perceptible in the data from options in which larger players/institutions positioned themselves to movements in both directions, which shows how uncertain the market is about where ETH is going, “added the analyst.
Related: FTX liquidated USD 1.5 billion in assets 3 weeks before the fall of the hedge fund
Whale addresses count on Ethereum began to expose the revival at the beginning of 2025.
Ethereum: number of whale addresses [Balance >1k ETH]. Source: Glass knot
Whale addresses by at least 1000 ETH or USD 1.92 million, increased by over 4% year -on -year, from 4,652 addresses on January 1 to over 4,843 addresses on March 14, Glass knot The data show.
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