Ethereum

Resistance

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-buy-ethereum-below-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Buy Ethereum Below Resistance</a><br></p>
<p style="text-align: justify">Ethereum whales continue to accumulate the cryptocurrency as it hovers under a significant psychological resistance level. Recently, a whale acquired 5,000 Ethereum, valued at over $12.8 million according to current market prices. Historical <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shows</a> that this whale also purchased Ethereum when its price dropped to $2,100 and saw it rise to $3,100.</p>
<h2 id="what-s-happening-on-the-ethereum-front">What’s Happening on the Ethereum Front?</h2>
<p style="text-align: justify">Investors often monitor whale activity to gauge market sentiment. The last significant purchase by this whale coincided with a local price bottom, followed by a strong recovery. This pattern has caught the attention of many in the crypto community, who see it as a potential indicator of future price movements.</p>
<p style="text-align: justify">Ethereum experienced notable gains after a $510 billion sell-off in the crypto market on August 5 and 6. According to CoinMarketCap data, Ethereum’s price surged over 18% last week, reaching $2,655. However, analysts emphasize the need for Ethereum to decisively break through the $2,700 resistance level for sustained upward momentum.</p>
<h2 id="details-on-the-matter">Details on the Matter</h2>
<p style="text-align: justify">Despite the promising price action, institutional inflows into Ethereum have been underwhelming. The launch of the first spot Ethereum exchange-traded funds (ETFs) in the U.S. on July 23 has not reversed this trend. Data from Farside Investors indicates that nine U.S. spot Ethereum ETFs experienced cumulative negative outflows of $15.8 million as of August 9.</p>
<p style="text-align: justify">Since their launch, these ETFs have logged net outflows totaling $406 million, contributing to Ethereum’s lagging price performance. For context, ETF inflows have significantly impacted <a href="https://en.bitcoinhaber.net/surge-in-bitcoin-whale-wallets-as-stability-attracts-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price, with ETFs accounting for approximately 75% of new <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investments</a> by mid-February, pushing its price past the $50,000 mark.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">– Whale purchases can signal market sentiment shifts and potential price movements.<br> – Ethereum must break the $2,700 resistance for more upward momentum.<br> – Institutional inflows into Ethereum remain weak despite recent ETF launches.<br> – Historical patterns suggest that ETF inflows can significantly influence cryptocurrency prices.</p>
<p style="text-align: justify">The current activity of whales and the performance of Ethereum ETFs will be critical to watch for future market trends.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-buy-ethereum-below-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Buy Ethereum Below Resistance</a></h5>

Whales Buy Ethereum Below Resistance

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