Will Whale Wake-Ups and Government Transfers Heat Up the Ethereum Charts?
The post Will Whale Wake-Ups and Government Transfers Heat Up the Ethereum Charts? appeared on BitcoinEthereumNews.com. Ethereum is trading at its support floor around the $2.5K zone. The market has seen $32.95 million worth of ETH liquidated. With the neutral market sentiment, the crypto assets display a mix of breakthroughs and failures. The largest asset, Bitcoin (BTC), is trading at around $108.3K, while the largest altcoin, Ethereum (ETH), confronts sturdy bearish obstacles in the battle to reclaim the $3K mark. It has been four years since the asset last reached its all-time high. ETH’s $2.5K zone serves as the support floor, and a breakout could trigger the bulls to stay and invite more upside correction. The altcoin has chosen to trade on the downside, dropping over 0.97%. In the early hours, ETH has visited its daily high of $2,586.74. With the bearish encounter, the asset plunged to a low of $2,517.90. At the time of writing, Ethereum trades at around $2,551, with the market cap reaching $308.31 billion. Moreover, the daily trading volume has surged by over 24.97%, touching $18.64 billion. Also, the market has witnessed a liquidation of $32.95 million worth of Ethereum during the last 24 hours. As per on-chain data, an early Ethereum ICO wallet was reactivated after nearly ten years, transferring 1,140 ETH. The ETH was initially acquired during the 2015 ICO for $353, obtained at around $0.31 per token. Also, the U.S. Government transferred 86.56 Ethereum to Coinbase Prime. Currently, the government holds 65,156 ETH, valued at around $166 million. Where is Ethereum Headed Next? Assuming Ethereum’s active downside trading pattern continues, the price might slip further and test the $2,544 support. With a steep bearish correction, ETH could trigger the death cross to take place, and the price may go down toward the $2,530 zone, acting as a key level for the price action. Upon reclaiming the lost bullish momentum,…
The post Will Whale Wake-Ups and Government Transfers Heat Up the Ethereum Charts? appeared on BitcoinEthereumNews.com.
Ethereum is trading at its support floor around the $2.5K zone. The market has seen $32.95 million worth of ETH liquidated. With the neutral market sentiment, the crypto assets display a mix of breakthroughs and failures. The largest asset, Bitcoin (BTC), is trading at around $108.3K, while the largest altcoin, Ethereum (ETH), confronts sturdy bearish obstacles in the battle to reclaim the $3K mark. It has been four years since the asset last reached its all-time high. ETH’s $2.5K zone serves as the support floor, and a breakout could trigger the bulls to stay and invite more upside correction. The altcoin has chosen to trade on the downside, dropping over 0.97%. In the early hours, ETH has visited its daily high of $2,586.74. With the bearish encounter, the asset plunged to a low of $2,517.90. At the time of writing, Ethereum trades at around $2,551, with the market cap reaching $308.31 billion. Moreover, the daily trading volume has surged by over 24.97%, touching $18.64 billion. Also, the market has witnessed a liquidation of $32.95 million worth of Ethereum during the last 24 hours. As per on-chain data, an early Ethereum ICO wallet was reactivated after nearly ten years, transferring 1,140 ETH. The ETH was initially acquired during the 2015 ICO for $353, obtained at around $0.31 per token. Also, the U.S. Government transferred 86.56 Ethereum to Coinbase Prime. Currently, the government holds 65,156 ETH, valued at around $166 million. Where is Ethereum Headed Next? Assuming Ethereum’s active downside trading pattern continues, the price might slip further and test the $2,544 support. With a steep bearish correction, ETH could trigger the death cross to take place, and the price may go down toward the $2,530 zone, acting as a key level for the price action. Upon reclaiming the lost bullish momentum,…
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