Ethereum

bullish

<p>Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, is poised to continue its upside momentum following a notable price decline in recent days. This bullish speculation is driven by investors and long-term holders who have recently been buying the dip in ETH.</p>   
<h2 class="wp-block-heading" id="h-crypto-whales-adds-28-5-million-of-eth-nbsp"><strong>Crypto Whales Adds $28.5 Million of ETH&nbsp;</strong></h2>   
<p>Recently, the blockchain-based transactions tracker Lookonchain posted on X (formerly Twitter) that four fresh crypto wallets belonging to Whales had purchased a significant 8,440 ETH worth $28.43 million from Binance. This massive ETH purchase occurred during a period when the altcoin's price had begun to recover after a notable decline.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/lookonchain/status/1870139114131206228 
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<p>During a recent downturn, ETH experienced a price decline of over 22.5%. However, with rising interest, the altcoin has rebounded, reclaiming a crucial level after retesting its vital support at the 200 <a href="https://coinpedia.org/traders/exponential-moving-average-ema/" target="_blank" rel="noreferrer noopener">Exponential Moving Average</a> (EMA) of $3,100.</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>   
<p>At press time, <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH is trading near $3,475</a>, having experienced a price surge of over 1.75% in the past 24 hours. During the same period, its trading volume jumped by 10%, indicating heightened participation from traders and investors amid the market dip. Meanwhile, long-term holders and whales appear to have seized this opportunity, accumulating heavily.</p>   
<p class="has-background" style="background-color:#e9f0ff"><strong>Ethereum’s price is on the move will it soar or dip? Read our <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum price prediction</a> to find out what’s next!</strong></p>   
<h2 class="wp-block-heading" id="h-ethereum-eth-technical-analysis-and-upcoming-level"><strong>Ethereum (ETH) Technical Analysis and Upcoming Level</strong></h2>   
<p>According to expert technical analysis, ETH has regained its crucial support level of $3,400 and recently closed a bullish pin bar candle at this support, characterized by a long wick. The formation of this bullish candle at the support level suggests potential upside momentum in the coming days.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/12/21082636/ETHUSDT_2024-12-21_08-26-28.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/21082636/ETHUSDT_2024-12-21_08-26-28-1024x448.png" alt="" class="wp-image-395823"></a>
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  Source: X (Previously Twitter)
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<p>Based on recent price action, if the altcoin crosses the $3,500 level, there is a strong possibility that ETH could soar by 17% to reclaim the $4,000 mark in the near future. Currently, market sentiment appears to favor the bulls, which could further support the upside momentum.</p>   [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"]

Time to Buy ETH? Ethereum Whales $28.5M Worth of Ether

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